Client Money rules

Question 1

What do the client money rules require?

Answer 1

Require the firm to keep clients’ money separate from its own

Question 2

How practically can clients money be kept in line with the client money rules?

Answer 2

Place in a client bank account with:
o	A central bank 
o	A BDC credit institution 
o	A bank authorised in a third country 
o	A qualifying money market fund

Question 3

Under the client money rules what is stated about reconciliation of client money?

Answer 3

o As often as is necessary; and

o As soon as reasonably practicable after reconciliation date

Question 4

Under the client money rules what is stated about what is no longer regarded as client money?

Answer 4

o Funds transferred to a firm for the purpose of securing or otherwise covering a present or future obligation
o Title transfer collateral arrangements (TTCAS)