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You are viewing the version of the document as on 2023-04-28.

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CASS 14.6 Tied agents and appointed representatives of TP firms

CASS 14.6.1G
  1. (1)

    1CASS does not apply directly to a TP firm’s appointed representative or tied agent.

  2. (2)

    A TP firm will be responsible for the acts and omissions of its appointed representatives and tied agents in carrying on business for which the TP firm has accepted responsibility.

  3. (3)

    In determining whether a TP firm has complied with any provision of CASS, anything done or omitted by a TP firm's appointed representative or tied agent (when acting as such) will be treated as having been done or omitted by the TP firm.

  4. (4)

    CASS 14.6.2R further restricts the possibility of appointed representatives and tied agents of TP firms from receiving or holding client money and safe custody assets. But that rule does not apply in relation to the business of an appointed representative or tied agent of a TP firm in respect of which CASS 5 would apply to the TP firm as a result of GEN 2.2.26R.

CASS 14.6.2R

1A TP firm must not permit an appointed representative or tied agent to receive or hold client money or safe custody assets in the course of or in connection with any of their business in respect of which CASS 6 or CASS 7 would apply to the TP firm as a result of GEN 2.2.26R.