In determining whether a TP firm has complied with any provision of CASS, anything done or omitted by a TP firm's appointed representative or tied agent (when acting as such) will be treated as having been done or omitted by the TP firm.
CASS 14.6.2R further restricts the possibility of appointed representatives and tied agents of TP firms from receiving or holding client money and safe custody assets. But that rule does not apply in relation to the business of an appointed representative or tied agent of a TP firm in respect of which CASS 5 would apply to the TP firm as a result of GEN 2.2.26R.
Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.