Related provisions for CASS 6.6.53
2When a trustee firm or depositary acts as a custodian for a trust or collective investment scheme, (except for a firmacting as trustee or depositary of an AIF and a firmacting as trustee or depositary of a UCITS12), and:
7- (1)
the trust or scheme is established by written instrument; and
- (2)
the trustee firm or depositary has taken reasonable steps to determine that the relevant law and provisions of the trust instrument or scheme constitution will provide protections at least equivalent to the custody rules for the trust property or scheme property;
the trustee firm or depositary need comply only with the custody rules listed in the table below.
Reference |
Rule |
CASS 6.1.1 R to CASS 6.1.9 G and CASS 6.1.15 G to CASS 6.1.16C R |
Application |
Trustees and depositaries |
|
General purpose |
|
Protection of clients' safe custody assets |
|
CASS 6.2.3 R and CASS 6.2.3B G9 9 |
Registration and recording of legal title9 |
Holding9 |
|
9CASS 6.3.1 R to CASS 6.3.4B G9 9 |
Depositing safe custody assets with third parties |
Use of safe custody assets |
|
9 | Records, accounts and reconciliations |
- (1)
7Subject to (2), when a firm is acting as trustee or depositary of an AIF the firm need comply only with the custody rules in the table below:
Reference
Rule
CASS 6.1.1 R, CASS 6.1.9 G, CASS 6.1.9A G and CASS 6.1.16IB G
Application
General purpose
CASS 6.2.3 R and CASS 6.2.3B G9 to CASS 6.2.6 G
9Registration and recording of legal title9
Holding
CASS 6.6.2 R, CASS 6.6.4 R, CASS 6.6.6 R, CASS 6.6.7 R, CASS 6.6.57R (2) and CASS 6.6.58 G9
9Records, accounts and reconciliations
- (2)
When a firm is acting as trustee or depositary of an AIF that is an authorised AIF the firm must, in addition to the custody rules in (1), also comply with the custody rules in the table below:
Reference
Rule
10 Application
CASS 6.6.8 R, CASS 6.6.11 R to CASS 6.6.32 G, CASS 6.6.41 G, CASS 6.6.43 G and CASS 6.6.47 G.9
9Records, accounts and reconciliations
12When a firm is acting as trustee or depositary of a UCITS, the firm need comply only with the custody rules in the table below:
Reference |
Rule |
Application |
|
General purpose |
|
Holding of client assets |
|
13CASS 6.6.2R, CASS 6.6.4R, CASS 6.6.7R, CASS 6.6.41AG, CASS 6.6.57R(2A), CASS 6.6.58G |
Records, accounts and reconciliations |