Registration and recording of legal title - CASS Provision

CASS Anatomy™ Go Premium Template:CASS Section 6.2.3 (View Template) 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 This resource therefore may well be out of date, even if it was accurate once, which it might not have been.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.

This is the rule that provides that a custodian may hold client assets in its own name or that of a third party if local law or market practice makes it impracticable to do otherwise. See this rule in its natural environment on the FCA website here.

Discussion

Note the interplay between CASS 6.2.5, about the recording of title to legal assets, with 6.2.3(4).