Related provisions for CASS 1.2.1
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(1) CASS applies directly in respect of activities conducted with or for market counterparties as well as with or for customers. The term client refers both to market counterparties and to customers.(2) In CASS 2 (Custody rules), CASS 3 (Collateral rules) and CASS 4 (Client money and mandates: designated investment business), the term customer refers toprivate customers and intermediate customers, but not market counterparties. Where relevant, each of the provisions of CASS makes
In the case of OPS activity undertaken by an OPS firm, CASS applies with the following general modifications:(1) references to customer are to the OPS or welfare trust, whichever fits the case, in respect of which the OPS firm is acting or intends to act, and with or for the benefit of which the relevant activity is to be carried on; and(2) if an OPS firm is required by any rule in CASS to provide information to, or obtain consent from, a customer, that firm must ensure that the
When any of the rules of COB, COBS or CASS apply to a common platform firm that acts with knowledge, the firm will not be taken to act with knowledge for the purposes of that rule if none of the relevant individuals involved on behalf of the firm acts with that knowledge as a result of arrangements established under SYSC 10.2.2 R.
(1) A firm which carries on designated investment business with or for customers must allocate to a director or senior manager the function of:(a) having responsibility for oversight of the firm's compliance; and(b) reporting to the governing body in respect of that responsibility.1(2) In SYSC 3.2.8 R (1)10 (1) "compliance" means compliance with the rules in:(a) COBCOBS (Conduct of Business); (b) COLL (New Collective Investment Schemes) and CIS (Collective Investment Schemes)
Application of different sections of SUP 16
There are other pre-contract information requirements outside this chapter, including:(1) for financial promotions, inCOB 3 (Financial promotion)(2) for designated investment business, inCOB 4.2 (Terms of business and client agreements with customers), COB 4.3 (Disclosing information about services, fees and commission - packaged products), COB 5.5 (Information about the firm), COB 6.1 to COB 6.5 (Product disclosure) and CASS (Client assets);(3) for non-investment insurance contracts3,