This issue mostly occurs when the details of the detachment are not correctly inputted on the detachment form.
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A situation of this nature could be because:
- the resident member code & account number as well as target member and/or account are omitted
- signatures are also signed incorrectly for corporate account holders.
- volume of security stated are not available in the special account.
1. Brokers are advised to engage CSCS, make a request for statement of account and ensure the form is properly filled..
2. Special account holders are also required to confirm current status of special account, update their records with new emails for automatic receipt of expiration notification and have the special account updated.
3. Both special account and dealing members making request should have the authorized signatories sign off appropriately to avoid any delays in processing the request