Form 62 - Report of working capital [F - Rescinded]
| Published Date: | 1995-12-15 |
|---|---|
| Effective Date: | 1996-01-01 |
| Rescinded Date: | 2001-03-28 |
This is the form required under sections 19( 3), 19 (5), 20 (1), 20 (2), 41 (1) (c) and 70 (3) of the Securities Rules.
FORM 62
Securities Act
REPORT OF WORKING CAPITAL
NAME OF DEALER / ADVISER: ___________________________ REGISTRATION #: X ____________
CONTACT PERSON / TITLE: ______________________________ TELEPHONE: __________________
REPORTING PERIOD: __________________________________________________
This report, to be prepared by all mutual fund dealers, real estate securities dealers, scholarship plan dealers, portfolio managers and investment counsel at least monthly, must be filed on a periodic basis as required by section 70(3) of the Securities Rules or as described in a registrant's conditions of registration. The calculation is intended to demonstrate an adequate level of available financial resources in conducting the day-to-day operations of the registrant's business. Please note that minimum working capital prescribed in the Securities Rules is intended as a crisis threshold and that registrants should plan to maintain amounts significantly in excess of this amount on a daily basis. Any capital deficiency must be reported to the Executive Director immediately.
Current Period Prior Period
(I) WORKING CAPITAL
CURRENT ASSETS:
Cash ______________ _____________
RRSP in trust ______________ _____________
Cash in trust ______________ _____________
Securities owned ______________ _____________
Client Accounts ______________ _____________
Recoverable & overpaid income taxes ______________ _____________
Interest & dividends receivable ______________ _____________
Receivable from mutual fund 1 ______________ _____________
Other commissions and fees receivable 1 ______________ _____________
Other third party receivables 1 ______________ _____________
Prepaid expenses ______________ _____________
Other current assets (Specify)1:
_________________________________ ______________ _____________
__________________________________ ______________ _____________
__________________________________ ______________ _____________
TOTAL CURRENT ASSETS ______________ (A) _____________ (A)
1 NOTE: For the purposes of this calculation, any related party balances which are not generated in the "normal course" of the registrant's business (e.g., intercompany or shareholder loans receivable are not generated from the normal revenue stream) are not considered as allowable current assets and should be excluded.
Current Period Prior Period
(I) CURRENT LIABILITIES
Overdrafts & loans payable 2 ______________ _____________
Trust liabilities ______________ _____________
Variable compensation (commissions) payable ______________ _____________
Bonuses payable ______________ _____________
Accounts payable & accrued liabilities ______________ _____________
Client accounts ______________ _____________
Income taxes payable ______________ _____________
Unsubordinated related party loans 2 ______________ _____________
Other current liabilities (Specify) 2:
______________________________________ ______________ _____________
______________________________________ ______________ _____________
______________________________________ ______________ _____________
TOTAL CURRENT LIABILITIES ______________ (B) _____________ (B)
2 NOTE: For the purposes of this calculation, all unsubordinated related party debt (e.g. intercompany or shareholder payables) are to be included as current, regardless of repayment terms or agreements.
EXCESS WORKING CAPITAL
Working Capital [(A) - (B)] ______________ _____________
Less: Minimum Working Capital ______________ _____________
Less: Maximum deductible under
financial institution bond ______________ _____________
TOTAL EXCESS WORKING CAPITAL ______________ _____________
(II) TRUST ACCOUNTS
Trust cash at period end ______________ _____________
Client credit balances ______________ _____________
If deficiency in either of parts (I) or (II), date and description of method in which deficiency covered:
____________________________________________________________
____________________________________________________________
Signed: Title: Dated:
______________________ _________________ ____________________
Auditor's Report
(Report of Working Capital)
TO: BRITISH COLUMBIA SECURITIES COMMISSION
We have audited the "Report of Working Capital"
of_____________________________________________
(dealer or adviser)
as at _____________________, 19 ____ and ___________________, 19 ____.
(month, day: current period) (month, day: prior period)
The report is the responsibility of the __________________ management. Our responsibility
(dealer's or adviser's)
is to express an opinion on the report based on our audit.
We conducted our audit in accordance with generally accepted auditing standards. These standards require that we plan and perform an audit to obtain reasonable assurance whether the report is free of material misstatements. An audit includes examining, on a test basis, the amounts and disclosures in the financial information. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial information.
In our opinion, this report presents fairly, in all material respects, the working capital and other presented financial information of ______________________________________________ as
(dealer or adviser)
at _________________________, 19 ____ and _____________________, 19 ____ in
(month, day: current period) (month, day: prior period)
accordance with the provisions of the British Columbia Securities Commission's "Report of Working Capital".
(signed) ______________________________________
CHARTERED ACCOUNTANT or
CERTIFIED GENERAL ACCOUNTANT
City ____________________________________________
Date ____________________________________________