Series 53: Procedure For Rejection Or Reclamation

Procedure for Rejection or Reclamation

Rejected or reclaimed securities must be returned to the party who had previously delivered them. In the case of a reclamation of securities that are reported missing, stolen, fraudulent, or counterfeit, the reclaiming party may reclaim all or part of the securities that were not in “good delivery” form on the delivery date.

The rejecting or reclaiming party must also provide a written notice containing sufficient information to identify the delivery to which the notice relates. A copy of the original delivery ticket or other proof of delivery must be attached. In addition, the notice must include this information:

• • Name of the party delivering the securities
• • Name of the party receiving the securi