Regulatory Alerts2022-01-01
Guidelines for the Operation of Clients Holding Accounts at JamCLEAR
The Financial Services Commission of Jamaica issued these guidelines to enhance investor protection by requiring securities dealers to register customer interests in repurchase agreements via pledges or segregated client holding accounts at JamCLEAR. Participating dealers must maintain clear records, perform ongoing reconciliations of liabilities and assets, and submit annual auditor verifications to ensure the segregation of client assets. Compliance is enforced through mandatory daily, weekly, and monthly reporting of assets and repo liabilities to the regulator starting in October 2010.
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