all related contractual definitions upon which that limit is based;
A firm must ensure that it sends to the client in question an updated disclosure annex if the terms of the prime brokerage agreement are amended after completion of that agreement such that the original disclosure annex no longer accurately records the key provisions of the amended agreement.
Principle 10 (Clients’ assets) requires a firm to arrange adequate protection for client's assets when it is responsible for them. As part of these protections, the custody rules require a firm to take appropriate steps to protect safe custody assets for which it is responsible.
A prime brokerage firm should not enter into “right to use arrangements” for a client's safe custody assets unless the person to whom the responsibilities set out in CASS 1A.3.1 R have been allocated and each of the firm's managers who are responsible for those safe custody assets are satisfied that the firm has adequate systems and controls to discharge its obligations under Principle 10 which include: