Template:Nutshell CASS 7.11.9: Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
No edit summary
 
(3 intermediate revisions by the same user not shown)
Line 1: Line 1:
{{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 in writing, either '''agreeing''' to terminate the title transfer collateral arrangement (in which case advising the effective date of termination and whether the client's {{fcaprov|financial instrument}}s will thereafter be held under the CASS rules), or declining the request.  
{{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 to it 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.

Retrieved from "https://jollycontrarian.com/index.php?title=Template:Nutshell_CASS_7.11.9&oldid=70271"