4859. Failure to settle

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    1. If the delivering Dealer Member fails to settle an asset transfer in a client account within 10 clearing days of receipt of the request for transfer, the receiving Dealer Member may complete the account transfer, at its option, by:

      1. buying-in the unsettled position in accordance with section 4810,

      2. lending the security to the delivering Dealer Member through a recognized depository and simultaneously transferring the same security into the client account, or

      3. making other mutually agreed arrangements with the delivering Dealer Member so that the account transfer can be considered completed.

    2. Any loan in clause 4859(1)(ii) must be marked to market and the assets will be considered delivered to the receiving Dealer Member to settle the account transfer.

    There is no history log for this rule.

    There is no history log for this rule.