SUP 16.14 Client money and asset return
Application
213This section applies to a CASS large firm and a CASS medium firm.
Purpose
The purpose of the rules and guidance in this section is to ensure that the FSA receives regular and comprehensive information from a firm which is able to hold client money and safe custody assets on behalf of its clients.
Report
- (1)
A firm must submit a completed CMAR to the FSA within 15 business days of the end of each month.
- (2)
In this rule month means a calendar month and SUP 16.3.13 R (4) does not apply.
For the purposes of the CMAR:
- (1)
client money is that to which the client money rules in CASS 7 apply; and
- (2)
safe custody assets are those to which the custody rules in CASS 6 apply.
For the avoidance of doubt, the effect of SUP 16.14.4R (1) is that any client money held in accordance with CASS 5 is to be excluded from any calculations which the CMAR requires.