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CASS 9.4 1Information to clients concerning custody assets and client money

CASS 9.4.1G

1Firms are reminded that, under COBS 6.1.7 R, a firm that holds client designated investments or client money must provide its clients with specific information about how the firm holds those client designated investments and client money and how certain arrangements might give rise to specific consequences or risks for those client designated investments and client money.

CASS 9.4.2R

1A firm that holds custody assets or client money must:

  1. (1)

    provide the information in COBS 6.1.7 R for any custody assets the firm may hold for a client, including any custody assets which are not designated investments; and

  2. (2)

    provide the information in COBS 6.1.7 R and in (1) to each of its clients.

CASS 9.4.3G

1A firm should provide the information required in CASS 9.4.2 R to any client for whom it holds custody assets or client money, including a retail client, a professional client and an eligible counterparty.

CASS 9.4.4G
  1. (1)

    1Firms are reminded of their obligation, under COBS 4.2.1 R, to be fair, clear and not misleading in their communications with clients.

  2. (2)

    Firms are also reminded of the requirements in respect of communications made to retail clients under COBS 4.5.