- (1) 23
In relation to a firm to which CASS 5 (Client money: insurance distribution6 activity) and CASS 7 (Client money rules) apply, this chapter does not apply in relation to client money that a firm holds in accordance with CASS 5.
The rules and guidance in CASS 1A.2 apply to a firm even if at the date of the determination or, as the case may be, the notification, either or both of CASS 6 and CASS 7 do not apply to it, provided that:
either or both of those chapters applied to it during part or all of the previous calendar year; or
it projects that either or both will apply to it in the current calendar year.2
- (4) 4
it is, was, or is projected to be a firm which arranges safeguarding and administration of assets; or4
when acting as a small AIFM and in relation to excluded custody activities, it would be, would have been or would be projected to be a firm which arranges safeguarding and administration of assets but for the exclusion in article 72AA of the RAO.4
Status: You are viewing the version of the handbook as on 2019-09-14.