Related provisions for FEES 13.2.10
Client assets report
Whether in the auditor's opinion |
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(1) |
the firm has maintained systems adequate to enable it to comply with the custody rules, the collateral rules,5 the client money rules3 (except CASS 5.2)13, the debt management client money rules9 and the mandate rules5 throughout the period ;5 353 |
1
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(2) |
the firm was in compliance with the custody rules, the collateral rules,5 the client money rules3 (except CASS 5.2), the debt management client money rules9 and the mandate rules5,13 at the date as at which the report has been made; 353 |
1
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(3) |
in the case of an investment management firm, personal investment firm, a UCITS firm,2securities and futures firm, firm acting as trustee or depositary of an AIF, firm acting as trustee or depositary of a UCITS7 or IFPRU investment firm8or BIPRU firm8,2 when a subsidiary of the firm is during the period 5a nominee company in whose name custody assets of the firm are registered during the period, 5 that nominee company has maintained throughout the period5 systems for the custody, identification and control of custody assets which: 2285 |
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(a) |
were5 adequate; and 5 |
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(b) |
included5 reconciliations at appropriate intervals between the records maintained (whether by the firm or the nominee company) and statements or confirmations from custodians or from the person who maintained5 the record of legal entitlement; and 55 |
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(4) |
if there has been a secondary pooling event during the period, the firm has 1complied with the rules in943CASS 5.6 and CASS 7A43 (Client money distribution)1and CASS 11.13 (debt management client money distribution rules)9 in relation to that pooling event. 3 |
1
Subject to CASS 11.1.6 R, only the rules and guidance in the debt management client money chapter listed in the table below apply to CASS small debt management firms.
Reference |
Rule |
Application |
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Firm classification |
|
Responsibility for CASS operational oversight |
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Definition of client money and discharge of fiduciary duty |
|
Organisational requirements |
|
Statutory trust |
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Selecting an approved bank at which to hold client money |
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Client bank account acknowledgement letters |
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Segregation and the operation of client money accounts |
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Payments to creditors |
|
CASS 11.11.1 R to CASS 11.11.12 R , CASS 11.11.30 R and CASS 11.11.32 G |
Records, accounts and reconciliations |
CASS 11 resolution pack |
|
Client money distribution in the event of a failure of a firm or approved bank |
This table belongs to MCOB 9.1.3 R
Section of MCOB 9 |
Applies in relation to an equity release transaction as set out in the following rules:2 2 |
Table of application
This table belongs to COLL 6.5.1 R.
Depositary of an ICVC |
Authorised fund manager of an AUT or ACS3 3 |
Depositary of an AUT or ACS3 3 |
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6.5.1R |
x |
x |
x |
x |
x |
x |
6.5.3R |
x |
x |
x |
x |
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6.5.4R |
x |
x |
x |
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6.5.5R |
x |
x |
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6.5.6R |
x |
x |
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6.5.7R |
x |
x |
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6.5.8R |
x |
x |
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6.5.9R |
x |
x |
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6.5.10R |
x |
x |
x |
x |
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Note: "x" means "applies", but not every paragraph in every rule will necessarily apply. |
Table of modified cross-references to other rules.
This table belongs to MCOB 9.3.1 R.
Subject |
Rule or guidance |
Reference in rule or guidance |
To be read as a reference to: |
Variations |
MCOB 5.1.3R(2) |
MCOB 7 |
|
Part of loan not an equity release transaction2 2 |
MCOB 5.1.9G |
MCOB 5.6.6R(2) |
MCOB 9.4.6R(2) |
Waiver of provisions |
MCOB 5.1.10G |
MCOB 5.6 |
MCOB 9.4. |
Purpose |
MCOB 5.2.1G |
MCOB 5 |
|
Applying for a lifetime mortgage2 2 |
MCOB 5.3.2G |
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4Messages to be given when providing information on equity release transactions |
MCOB 4.4A.1R (1), MCOB 4.4A.2 R and MCOB 4.4A.4R (1), each as applied by MCOB 8.3.1 R in modified form |
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4Messages to be given when customer requests an execution-only sale |
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MCOB 9 Annex 1 R for a lifetime mortgage; MCOB 9 Annex 2 R for a home reversion plan. |
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MCOB 5.4.24G |
MCOB 5.6.74R |
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4Provision of illustrations: timing |
MCOB 4.8A.14R (1), (2) or (3) |
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Issue of offer document in place of illustration |
MCOB 5.5.3G |
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Customer's credit record |
MCOB 5.5.16R |
MCOB 5.5.15R(4) |
MCOB 9.3.12R(3) |
Table of rules in MCOB 5 replaced by rules in MCOB 9: This table belongs to MCOB 9.3.1R
Subject |
Rule(s) or guidance |
Rule(s) or guidance replaced by: |
Accuracy of the illustration |
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Providing anillustration |
MCOB 5.5.15R - |
MCOB 9.3.12R - |
Content ofillustration |
MCOB 5.6 |
MCOB 9.4 |