Prime brokerage agreement disclosure annex

CASS Anatomy™ Go Premium To see the current text of CASS [[9.3.{{{2}}} - CASS Provision|9.3.{{{2}}}]] in the FCA handbook, click here. IMPORTANT: CASS changed quite a bit after MiFID II. This resource therefore may well be out of date, even if it was accurate once, which it might not have been. This is an article about the FCA’s custody and client money rules — client assets — and is fondly known by its chapter in the FCA SourcebookTable of Contents | 1 | 1A | 3 | 5 | 6 (custody rules) | 7 (client money rules) | 7A | 8 | 9 (PBDA) | 10 Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

The famous prime brokerage disclosure annex mandated by CASS 9.3. Note especially the second part, which refers explicity to the CF10a’s personal responsibility for making sure everything is tickety-boo. Which will mean your local CF10a might be inclined, almost imperceptibly, to obsess madly about your catalogue of prime brokerage disclosure annexes at every waking moment (yours or his).

Strictly speaking, one only needs a PBDA if one is reusing or (as our American friends like to say, “rehypothecating” client assets. If you don’t reuse custody assets — that is, you have no right to transfer them to your own account for your own nefarious purposes, you don't need to provide your client with a PBDA.

The rule you can see in original here: CASS Chapter 9 If that’s a click too far, here’s a summary:

---

9.3 in a Nutshell™ _{(CASS edition)}

Template:Nutshell CASS 9.3

view template

---

And here’s the whole thing (but check the original just in case it has been updated):

Template:CASS Section 9.3 (View Template)

Update to {{anat|cass}}