7A - CASS Provision

Client money distribution: This is the section that deals with what happens when a person holding client money goes bust. This can be a primary pooling event or a secondary pooling event.

A primary pooling event is the failure of a firm that is holding client money in its own right. A secondary pooling event is the failure of a third party bank or other eligible institution that is holding client money on behalf of the primary firm.

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