Related provisions for PERG 8.14.34
1 - 20 of 23 items.
If a primary pooling event occurs:(1) client money held in each client money account of the firm is treated as pooled; and(2) the firm must distribute that client money in accordance with CASS 7.7.2 R, so that each client receives a sum which is rateable to the client money entitlement calculated in accordance with CASS 7A.2.5 R.
(1) When, in respect of a client, there is a positive individual client balance and a negative client equity balance, the credit must be offset against the debit reducing theindividual client balance for that client.(2) When, in respect of a client , there is a negative individual client balance and a positive client equity balance , the credit must be offset against the debit reducing the client equity balance for that client.
(1) 3A firm will, subject to (3), be deemed to comply with CASS 5.3 to CASS 5.6 if it receives or holds client money and it either:2(a) in relation to a service charge, complies with the requirement to segregate such money in accordance with section 42 of the Landlord and Tenant Act 1987 ("the 1987 Act"); or2(b) in relation to money which is clients' money for the purpose of the Royal Institution of Chartered Surveyors' Rules of Conduct ("RICS rules") in force as at 14 January
Schedule to the Recognition Requirements Regulations, paragraph 32(1)The [UK RIE] must ensure that the systems and controls used in the performance of its [relevant functions] are adequate, and appropriate for the scale and nature of its business.(2)Sub-paragraph (1) applies in particular to systems and controls concerning -(a)the transmission of information;(b)the assessment, mitigation and management of risks to the performance of the [UK RIE'srelevant functions];(c)the effecting
Where a UK recognised body decides to put a member into default, it must immediately give notice of that event, and give the following information to the FSA, at the same time as that decision is communicated to that member or to any other member (or group or class of them) of that body: (1) the name of the member and (where relevant) the class of membership; (2) the reasons for that decision; and(3) the names of any other exchange,1clearing house or auction platform 1on which,
If the person with or for whom the firm is carrying on an activity is acting through an agent, the ability of the firm to treat the agent as its client under COBS 2.4.3 R3 (Agent as client) will not be available. For example, if a general insurer is effecting a general insurance contract through a general insurance broker who is acting as agent for a disclosed policyholder, the policyholder will be a client of the firm and the firm must comply with the Principles accordingly.
In determining whether a UK recognised body has made satisfactory arrangements for the safeguarding and administration of assets belonging to the users of its facilities, the FSA may have regard to: (1) the level of protection which the arrangements provide against the risk of theft or other types or causes of loss;(2) whether the arrangements ensure that assets are only used or transferred in accordance with the instructions of the owner of those assets or in accordance with
Sections 85 and 86 of the Act provide for when a prospectus approved by the FSA will be required:85(1)It is unlawful for transferable securities to which this subsection applies to be offered to the public in the United Kingdom unless an approved prospectus has been made available to the public before the offer is made.(2)It is unlawful to request the admission of transferable securities to which this subsection applies to trading on a regulated market situated or operating in
The following events are examples of events likely to affect an assessment of whether an overseas recognised body is continuing to satisfy the recognition requirements, or to have an effect on competition:(1) significant changes to any relevant law or regulation in its home territory, including laws or regulations:(a) governing exchanges or clearing houses;(b) designed to prevent insider dealing, market manipulation or other forms of market abuse or misconduct;(c) designed to