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client money

  1. (1) (in COB and CASS 2 to CASS 4) subject to the client money rules, money of any currency which, in the course of carrying on designated investment business, a firm holds in respect of any investment agreement entered into, or to be entered into, with or for a client, or which a firm treats as client money in accordance with the client money rules.17
  2. (2) (in CASS 5) subject to the client money rules, money of any currency which, in the course of carrying on insurance mediation activity, a firm holds on behalf of a client or which a firm treats as client money in accordance with the client money rules; 17
  3. (3) (in PRU 9 ):17
    1. (a) in relation to an insurance intermediary when acting as such, money which is client money in (2);17
    2. (b) in relation to a mortgage intermediary when acting as such, money of any currency which in the course of carrying on mortgage mediation activity , the firm holds on behalf of a client, either in a bank account or in the form of cash.17