Status: You are viewing the version of the handbook as on 2009-03-31.

client money

      1. (1)175279[deleted]79
      1. (2) (in CASS 5) subject to the client money rules, money of any currency which, in the course of carrying on insurance mediation activity, a firm holds on behalf of a client or which a firm treats as client money in accordance with the client money rules52.52 17
      1. (2A) (in CASS 679,79 CASS 7 and CASS 7A 79 and, in so far as it relates to matters covered by CASS 679,79 CASS 7, or 79 COBS ) subject to the client money rules, money of any currency:79
        1. (a) that a firm receives or holds for, or on behalf of, a client in the course of, or in connection with, its MiFID business; and/or79
        1. (b) which, in the course of carrying on designated investment business that is not MiFID business, a firm holds in respect of any investment agreement entered into, or to be entered into, with or for a client, or which a firm treats as client money in accordance with the client money rules.79
      1. (3) (in41 MIPRU 41 52 ):455217
        1. (a) in relation to an insurance intermediary when acting as such, money which is client money in (2);17
        1. (b) in relation to a41 home finance intermediary 41 when acting as such, money of any currency which in the course of carrying on41 home finance mediation activity 41 , the firm holds on behalf of a client, either in a bank account or in the form of cash.17
      1. (4) (in UPRU) client money for the purposes of the client money rules. 46