A securities firm that retains funds in the Settlement Account with customers' consent shall set up a separate account ledger for each customer and record therein the following for each item on a daily basis:
The securities firm shall retain records of receipts and payments of the above-mentioned funds and the relevant supporting documents, and prepare and send to the customer on a monthly basis a statement for reconciliation according to the detailed daily account entries.
- Transfers of sources of the customer's funds to such account
- Transfers of interest incurred from funds in the customer's ledger
- Transfers for the customer of monies payable by the customer
- Transfers of funds reclaimed by the customer
- Transfers of funds in the event of premature termination of the contract by the securities firm or customer