Related provisions for CASS 5.6.13
1 - 2 of 2 items.
(1) CASS
5.6 (the client money (insurance)
distribution rules) applies to a firm that
in holding client money is subject
to CASS
5.3 (statutory trust) or CASS
5.4 (Non-statutory trust) when
a primary pooling event or a secondary pooling event occurs.(2) In
the event of there being any discrepancy between the terms of the trust as
required by CASS
5.4.7 R (1)(c) and the provisions of CASS
5.6,
the latter shall apply.
A primary
pooling event occurs:(1) on
the failure of the firm; or(2) on
the vesting of assets in a trustee in accordance with an 'assets requirement' imposed under section 48(1)(b)of the Act; or(3) on
the coming into force of a requirement for
all client money held by the firm; or(4) when
the firm notifies, or is in
breach of its duty to notify, the FSA, in accordance with CASS 5.5.77 R1, that it is unable correctly to
identify and allocate in its records all valid claims arising