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    Question

    What is the maximum gap allowed between two settlements

    for unutilized client funds held by Broker Dealers, as per the IFSCA Circular of March 14, 2024?
    A 15 days for monthly settlements and 90 days for quarterly settlements Correct Answer Incorrect Answer
    B 30 days for monthly settlements and 90 days for quarterly settlements Correct Answer Incorrect Answer
    C 60 days for monthly settlements and 90 days for quarterly settlements Correct Answer Incorrect Answer
    D 75 days for monthly settlements and 90 days for quarterly settlements Correct Answer Incorrect Answer
    E 120 days for monthly settlements and 90 days for quarterly settlements Correct Answer Incorrect Answer

    Solution

    Broker Dealers are required to settle unutilized client funds, and the gap between two settlements should not exceed 30 days for monthly settlements and 90 days for quarterly settlements.

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