Q1 : I deposited money for settlement of a trade into a broker's account at the failed bank just before it collapsed (T+1). Is there a problem?

A:

This should be considered by the administrator of the failed bank based on the actual situation.

Q2 : What settlement alternatives are available? For instance, should I take cheques directly to my broker?

A:

Yes, you may take cheques directly to the broker for settlement. You are advised to clarify other settlement alternatives with your broker directly.

Q3 : I have a cheque drawn by my broker on the failed bank. Can I still bank in the cheque?

A:

You should ask the broker to make alternative arrangements.

Last update: 11 May 2009

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