Related provisions for CASS 5.5.37
1 - 18 of 18 items.
On the failure of
a third party with which client money is
held, a firm must notify the FCA:(1) as
soon as it becomes aware, of the failure of
any bank, other broker or settlement agent or
other entity with which it has placed, or to which it has passed, client money; and(2) as
soon as reasonably practical, whether it intends to make good any shortfall that has arisen or may arise and
of the amounts involved.
A3firm must notify the FCA as soon as reasonably practical after it becomes aware of the failure of any bank, exchange, clearing house, intermediate broker, settlement agent, OTC counterparty or other entity with which it has placed, or whom it has allowed to hold, client money3:(1) [deleted]3(2) [deleted]3(3) whether it intends to make good any secondary pooling shortfall that has arisen or may arise; and3(4) the amount of that secondary pooling shortfall, or the expected amount
The records maintained under this section, including the sub-pool disclosure documents, are a record of the firm that must be kept in a durable medium for at least five years following the date on which client money was last held by the firm for a sub-pool to which those records or the sub-pool disclosure document applied.