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Client money: Difference between revisions
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===[[Bank|Banks]]=== | ===[[Bank|Banks]]=== | ||
Deposit-taking credit institutions and “approved [[Bank|banks]]” benefit from the general “{{cassprov|banking exemption}}” and do not have to offer [[client money]] protection – | Deposit-taking credit institutions and “approved [[Bank|banks]]” benefit from the general “{{cassprov|banking exemption}}” and do not have to offer [[client money]] protection – see CASS {{cassprov|7.10.16}} - {{Cassprov|7.10.19}} — but may do so if they wish, or their clients insist. | ||
see CASS {{cassprov|7.10.16}} - {{Cassprov|7.10.19}} — but may do so if they wish, or their clients insist. | |||
But they may well find it is quite painful and difficult to do, seeing as the one thing banks like to do most — that is, taking cash in and onto their balance sheet — is the one thing<ref>Well, all right, it is one of the ''thousands of things'' a client money provider may not do.</ref> a provider of client money protection may ''not'' do. | But they may well find it is quite painful and difficult to do, seeing as the one thing banks like to do most — that is, taking cash in and onto their balance sheet — is the one thing<ref>Well, all right, it is one of the ''thousands of things'' a client money provider may not do.</ref> a provider of client money protection may ''not'' do. | ||