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
B 30 days for monthly settlements and 90 days for quarterly settlements
C 60 days for monthly settlements and 90 days for quarterly settlements
D 75 days for monthly settlements and 90 days for quarterly settlements
E 120 days for monthly settlements and 90 days for quarterly settlements
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