Secondary pooling event: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{anat|cass}} In the world of the FCA’s CASS 7 client money rules, a secondary pooling event happens when one of the client money banks - or intermediaries in a clea...") |
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Latest revision as of 11:36, 18 January 2020
CASS Anatomy™
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In the world of the FCA’s CASS 7 client money rules, a secondary pooling event happens when one of the client money banks - or intermediaries in a clearing chain who has offered client money protection fails or goes bust. This means there is likely to be a shortfall on the client money balance which will be shared across the clients pro rata according to their claim.