Template:Nutshell CASS 7.11.9: Difference between revisions

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(Created page with "{{cassprov|6.1.8A}} If a {{fcaprov|client}} asks (whether orally or in writing) to terminate any existing title transfer collateral arrangement the {{fcaprov|firm}} must reply...")
 
 
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{{cassprov|6.1.8A}} If a {{fcaprov|client}} asks (whether orally or in writing) to terminate any existing title transfer collateral arrangement the {{fcaprov|firm}} must replyin writing , either {{fcaprov|firm}} agreeing to terminate the title transfer collateral arrangement and advising the date from which the termination will be effective and advising whether the client's {{fcaprov|financial instrument}}s will thereafter be held under the CASS rules, or declining to do so.  
{{cassprov|7.11.9}} If a {{fcaprov|client}} asks to terminate any existing [[TTCA]] the {{fcaprov|firm}} must keep the communication (or a record of it, if not in writing, including the date it was made), and keep it for five years.


Records of any such request, the date made, and all responses must be kept for five years.
If it agrees to the termination, the firm must notify the client in writing, advising it of the effective date of termination and whether the firm will hold the client’s money as [[client money]].
 
If it does not agree to terminate, it must decline the request in writing.
 
The firm must keep records of all such responses for five years.<br>

Latest revision as of 11:03, 22 December 2022

7.11.9 If a client asks to terminate any existing TTCA the firm must keep the communication (or a record of it, if not in writing, including the date it was made), and keep it for five years.

If it agrees to the termination, the firm must notify the client in writing, advising it of the effective date of termination and whether the firm will hold the client’s money as client money.

If it does not agree to terminate, it must decline the request in writing.

The firm must keep records of all such responses for five years.

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