Content Options:

Content Options

View Options:

CASS 1A.1 Application

CASS 1A.1.1RRP
  1. (1)

    1Subject to (2), (3) and (4)3, this2 chapter applies to a firm to which either or both of CASS 6 (Custody rules) and CASS 7 (Client money rules) applies.

    23
  2. (2)

    In relation to a firm to which CASS 5 (Client money: insurance mediation activity) and CASS 7 (Client money rules) apply, this chapter does not apply in relation to client money that a firm holds in accordance with CASS 5.

  3. (3)

    The rules and guidance in CASS 1A.2 apply to a firm even if at the date of the determination or, as the case may be, the notification, either or both of CASS 6 and CASS 7 do not apply to it, provided that:

    1. (a)

      either or both of those chapters applied to it during part or all of the previous calendar year; or

    2. (b)

      it projects that either or both will apply to it in the current calendar year.2

  4. (4)

    This chapter does not apply to a firm to which only CASS 6 applies, applied or is projected to apply, merely because:43

    4
    1. (a)

      it is, was, or is projected to be a firm which arranges safeguarding and administration of assets; or4

    2. (b)

      when acting as a small AIFM and in relation to excluded custody activities, it would be, would have been or would be projected to be a firm which arranges safeguarding and administration of assets but for the exclusion in article 72AA of the RAO.4