Secondary pooling event
Jump to navigation
Jump to search
CASS Anatomy™
{{{2}}}
|
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.