Registration and recording of legal title - CASS Provision: Difference between revisions
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{{ | {{fullanat|cass|6.2.3|}} | ||
This is the rule that provides that a {{tag|custodian}} may hold {{tag|client assets}} in its own name or that of a third party if local law or market practice makes it impracticable to do otherwise. See this rule in its natural environment on the {{tag|FCA}} website [https://www.handbook.fca.org.uk/handbook/CASS/6/2.html#D41 here]. | |||
====Discussion==== | ====Discussion==== | ||
Note the interplay between CASS {{cassprov|6.2.5}}, about the recording of title to legal assets, with {{cassprov|6.2.3(4)}}. | Note the interplay between CASS {{cassprov|6.2.5}}, about the recording of title to legal assets, with {{cassprov|6.2.3(4)}}. | ||
{{CASS Section 6 TOC}} | |||
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Latest revision as of 14:13, 9 November 2017
CASS Anatomy™
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This is the rule that provides that a custodian may hold client assets in its own name or that of a third party if local law or market practice makes it impracticable to do otherwise. See this rule in its natural environment on the FCA website here.
Discussion
Note the interplay between CASS 6.2.5, about the recording of title to legal assets, with 6.2.3(4).
6 - Custody rules
6.1 Application
6.2 Holding of client assets
- 6.2.1 Requirement to protect clients' safe custody assets
- 6.2.2 Requirement to have adequate organisational arrangements
- 6.2.3 Registration and recording of legal title
- 6.2.4 (Nominee companies)
- 6.2.5 Recording title to safe custody assets
- 6.2.6 (Adequate investigations)
- 6.2.7 (documents of title to bearer assets)
6.3 Depositing assets and arranging for assets to be deposited with third parties
- 6.3.1 - Criteria for depositing assets with a third party
- 6.3.2 - Considerations when discharging obligations under this part
- 6.3.3 - Issues firms should address in their agreements with third party custodians
- 6.3.4 - Suitable jurisdictions for the deposit of safe custody assets
- 6.3.4A - Third-party custody agreements
- 6.3.4B - Third-party custody agreements
- 6.3.5 - Agreements with third party custodians not to contain security interests ...
- 6.3.6 - ... er, except in the following cases
- 6.3.7 - When a firm is considered to be acting on the instructions of a professional client
- 6.3.8 - Safe custody asset includes client money
- 6.3.9 - And don't think this provision allows a right of set-off
6.4 Use of safe custody assets
Template:CASS Section 6.5 TOC
6.6 Template:Records, accounts and reconciliations (From 1/6/2015)