Client Money Acknowledgment Letter - CASS Provision: Difference between revisions
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{{anat|cass}} | {{anat|cass}} | ||
The {{cassprov| Money Acknowledgment Letter}} is a letter that a {{cassprov|CASS firm}} must get from any subcustodian it appoints to hold client assets on its behalf. It requires the custodian | The {{cassprov|Client Money Acknowledgment Letter}} is a letter that a {{cassprov|CASS firm}} must get from any subcustodian it appoints to hold client assets on its behalf. It requires the custodian | ||
*To acknowledge that the assets are the CASS firm's client assets related to transactions the client is entering; | *To acknowledge that the assets are the CASS firm's client assets related to transactions the client is entering; | ||
*To agree that moneys in the account are only payable to the CASS firm as trustee. | *To agree that moneys in the account are only payable to the CASS firm as trustee. |