Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2024-07-11.

client money

  1. (1) [deleted]
  2. (2) (in CASS 5) subject to the client money rules, money of any currency which, in the course of carrying on insurance distribution activity223, a firm holds on behalf of a client or which a firm treats as client money in accordance with the client money rules.
  3. (2A) (in MIFIDPRU,256 FEES 160, CASS 6, CASS 7, CASS 7A and CASS 10 and, in so far as it relates to matters covered by CASS 6, CASS 7, COBS 260155and IPRU(INV) 11) subject to the client money rules, money of any currency:
    1. (a) that a firm receives or holds for, or on behalf of, a 166 client 166 in the course of, or in connection with, its MiFID business; 166or
    2. (b) 167that,167in the course of carrying on designated investment business that is not MiFID business, a firm holds166 for a client166;or166
    3. (ba) that a firm receives or holds for, or on behalf of, a client in the course of, or in connection with, its stocks and shares ISA business; or167
    4. (bb) that a firm receives or holds for, or on behalf of, a client in the course of, or in connection with, its innovative finance ISA business; or191
    5. (bc) that a firm receives or holds for, or on behalf of, a client in the course of, or in connection with, its lifetime ISA business; or210
    6. (c) that167 a firm treats as client money in accordance with the client money rules.166
  4. 157(2B) (in CASS 11, CONC 3.9, CONC 8.3, CONC 10, COMP 5 and COMP 12216) money which a CASS debt management firm receives or holds on behalf of a client in the course of or in connection with debt management activity.
  5. (2C) (in CASS 13) money which a firm receives or holds on behalf of a customer in the course of or in connection with providing claims management services.228
  6. (3) (in MIPRU):
    1. (a) in relation to an insurance intermediary when acting as such, money which is client money in (2);
    2. (b) in relation to a home finance intermediary when acting as such, money of any currency which in the course of carrying on home finance mediation activity, the firm holds on behalf of a client, either in a bank account or in the form of cash.
  7. (4) (in158COMP other than COMP 5 and COMP 12216) client money for the purposes of the relevant client money rules.
  8. (5) (in SYSC 1.5) has the meaning in (1) to (4). 260