Application completeness requirement: incomplete or misleading applications for designated depository participant approval may be rejected after giving opportunity to cure. Regulation 15 provides that an application for approval as a designated depository participant that is incomplete or false or misleading in any material ... Summary
Application completeness requirement: incomplete or misleading applications for designated depository participant approval may be rejected after giving opportunity to cure.
Regulation 15 provides that an application for approval as a designated depository participant that is incomplete or false or misleading in any material particular shall be deemed to be deficient and liable to be rejected, but the applicant must be given a reasonable opportunity to remove the deficiency within the time specified by the Board.
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