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Brokerage Standards Manual

IV. Accounting and Financial Records/Systems

Trust And General Account Records

For each account maintained by the brokerage, section 8-2 of the Rules requires that the brokerage retain all banking records relating to account transactions, including statements and cancelled cheques or other source documents making or confirming deposits or withdrawals, and prepares and maintains the following records:

  • a record showing all receipts and disbursements, the reason for the receipt or disbursement, and any unexpended balance;
  • monthly reconciliations of banking statements to the record referred to above prepared in a timely fashion and, in any case, no later than five weeks after the end of the month being reconciled.