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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) (in41 MIPRU 41 ):4517
    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 a41 home finance intermediary 41 when acting as such, money of any currency which in the course of carrying on41 home finance mediation activity 41 , the firm holds on behalf of a client, either in a bank account or in the form of cash.17
  4. (4) (in UPRU) client money for the purposes of the client money rules. 46