Unable to identify clients processed as direct cash settlements (Brokers)

Problem Description

This issue occurs when a broker is unable to identify clients included in the total value on their CSCS Cash Settlement advice, which makes it unclear how the payments were distributed to individual investors.

Step-by-Step Resolution

For Investors:

1. Kindly engage your broker and confirm if your account is on DCS.

2. If yes, payment advice has been sent on trade date to your settlement bank

✅

Investors are required to always confirm bank account details

For Brokers:

1. Visit the cscs brokers portal,

2. Scroll to Advice check to see a pdf report "Settlement Advice" and an excel report "DCS Settlement Report"

3. Kindly review the report and share feedback with your clients incase they do not remember the bank account which they advised to be profiled for dcs settlement.

Expected Resolution Timeline:

Within 24 hours of receiving a complete complaint.

Additional Tips / Notes

Avoid advising your broker of a dormant account or a domiciliary account or a Tier 1 account that has a credit limit. This will automatically delay the T+2 expected settlement date