Content Options

Add to favourites

View Options

More Resources:

External link Handbook Publications

client money

      1. (1) [deleted]
      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 rules.
      1. (2A) (in CASS 6, CASS 7, CASS 7A and CASS 10 and, in so far as it relates to matters covered by CASS 6, CASS 7, COBS or155 GENPRU155and IPRU(INV) 11) subject to the client money rules, money of any currency:
        1. (a) that a firm receives or holds for, or on behalf of, a clientin the course of, or in connection with, its MiFID business; and/or
        1. (b) which,in the course of carrying on designated investment business that is not MiFID business, a firm holdsin 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.
      1. (3) (in MIPRU):
        1. (a) in relation to an insurance intermediary when acting as such, money which is client money in (2);
        1. (b) in relation to a home finance intermediary when acting as such, money of any currency which in the course of carrying on home finance mediation activity, the firm holds on behalf of a client, either in a bank account or in the form of cash.
      1. (4) (in UPRU andCOMP) client money for the purposes of the relevant client money rules.