Content Options

Content Options

View Options

Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

designated client bank account

    a client bank account with the following characteristics:

      1. (a) the account holds the money of one or more clients;
      1. (b) the account includes in its title the words "designated client" (or, if the systems constraints of the approved bank or the firm that holds the account (or both) make this impracticable, an appropriate abbreviation of those words that has the same meaning);
      1. (c) the clients whose money is in the account have each consented in writing to the use of the bank with which the client money is to be held; and
      1. (d) in the event of the failure of that bank, the account is not pooled with any other type of account unless a primary pooling event occurs.