COBS 15.9.1

An Authorised Person must:

(a) at least every calendar month, reconcile its records of Client Accounts held with Third-Party Agents with monthly statements received from those Third-Party Agents;
(b) at least every six months, count all Safe Custody Investments physically held by the Authorised Person, or its Nominee Company, and reconcile the result of that count to the records of the Authorised Person; and
(c) at least every six months, reconcile individual Client ledger balances with the Authorised Person's records of Safe Custody Investment balances held in Client Accounts.