Applicable asset - CASS Provision
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Applicable asset means:
(a) in relation to MiFID business, a financial instrument; or
(b) in relation to safeguarding and administering investments that is not MiFID business, acting as trustee or depositary of a 2014|91|EU, and/or acting as trustee or depositary of an AIF, a designated investment (other than a P2P agreement).
— Section applicable asset