Regulatory Alerts2001-01-31
Added · Updated
Circular D4/EB/126: Control of Securities Deposit Activity in Brokerage Firms
The Commission Bancaire et Financière requires all brokerage firms exercising securities deposit activities to implement appropriate measures to strengthen their internal control and security policies regarding securities movements. Firms must specifically address physical securities movements by securing adequate insurance coverage for risks such as transport loss, storage, and fraud, while also developing robust accounting and management systems. Additionally, firms are mandated to establish effective internal controls, ensure a proper separation of functions, and develop an internal audit function to oversee these processes. Approved auditors will evaluate the adequacy of these measures in their periodic reports to the Commission.
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