client money
- (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) (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) (in
PRU 9
):17
- (a) in relation to an insurance intermediary when acting as such, money which is client money in (2);17
- (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