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Status: You are viewing the version of the handbook as on 2012-12-13.

SUP 16.14 Client money and asset return

Application

SUP 16.14.1RRP

213This section applies to a CASS large firm and a CASS medium firm.

Purpose

SUP 16.14.2GRP

The purpose of the rules and guidance in this section is to ensure that the FSA receives regular and comprehensive information from a firm which is able to hold client money and safe custody assets on behalf of its clients.

Report

SUP 16.14.3RRP
  1. (1)

    A firm must submit a completed CMAR to the FSA within 15 business days of the end of each month.

  2. (2)

    In this rule month means a calendar month and SUP 16.3.13 R (4) does not apply.

SUP 16.14.4RRP

For the purposes of the CMAR:

  1. (1)

    client money is that to which the client money rules in CASS 7 apply; and

  2. (2)

    safe custody assets are those to which the custody rules in CASS 6 apply.

SUP 16.14.5GRP

For the avoidance of doubt, the effect of SUP 16.14.4R (1) is that any client money held in accordance with CASS 5 is to be excluded from any calculations which the CMAR requires.

Method of submission

SUP 16.14.6RRP

3A CMAR must be submitted by electronic means made available by the FSA.