CASS TP 1 Transitional Provisions

1

CASS 2 to CASS 4

R

COB TP 1 to COB TP 4 apply to provisions in CASS in the same way as they did to the equivalent provisions included in COB 9 before 1 January 2004.

Indefinite

1 January 2004

2

Every rule in the Handbook

R

If a firm or its auditors make reference to a provision in COB 9 in a document, record, report or return, the FSA will take this as a reference to the equivalent provision in CASS 2 to CASS 4.

1 January 2004 for 12 months

1 January 2004

G

As a result of 2, firms will not have to replace their terms of business or client agreements immediately on the introduction of CASS

G

If a waiver granted before 1 January 2004 refers to a provision in COB 9 it will continue to be effective in relation to the equivalent provision in CASS.

32

CASS 5.1 to CASS 5.62

R2

Apply in relation to money (and where appropriate designated investments) held by a firm on 14 January 2005 (being money or designated investments to which CASS 5.1 to CASS 5.6 would not otherwise apply) to the extent that such money (or designated investments) relate to business carried on before 14 January 2005 and which would, if conducted on or after 14 January 2005, be an insurance mediation activity.23

Indefinitely23

14 January 20052

42

CASS 5.1.5A R23

R2

A firm will satisfy the requirements of this paragraph, and money is client money, notwithstanding that an insurance undertaking which is the firm's counterparty to an agreement required by CASS 5.1.5A R has not given written consent to its interests under the trusts (or in Scotland agency) in CASS 5.3.2 R or CASS 5.4.7 R being subordinated to the interests of the firm's other clients.23

14 January 2005 for 6 months23

14 January 20052

53

CASS 5.3.2 R3

R3

The interests of a firm's clients which are insurance undertakings will rank equally with the interests of the firm's other clients.3

14 January 2005 for 6 months3

14 January 20053

63

CASS 5.4.7 R3

R3

A firm will satisfy the requirements of this rule notwithstanding that the deed referred to in CASS 5.8.3 R provides that money (and if appropriate designated investments) are held on terms which provide for the interests of the firm's clients which are insurance undertakings to rank equally with the interests of the firm's other clients.

14 January 2005 for 6 months3

14 January 20053

73

CASS 5.5.65 R3

R3

A firm may for the purpose of calculating its client money resource disregard any money which the firm had before 14 January 2005 transferred to an intermediate broker in circumstances analogous to those described in CASS 5.5.84 R.3

14 January 2005 for 12 months3

14 January 20053