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| CASS {{cassprov|3.2.2}} <br>
| | {{casssource|3|1}} <br> |
| A firm that receives or holds a client's assets under an arrangement to which this chapter applies and which exercises its right to treat the assets as its own must ensure that it maintains adequate records to enable it to meet any future obligations including the return of equivalent assets to the client.<br>
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| CASS {{cassprov|3.2.3}}<br>
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| If the firm has the right to use the client's asset under a "right to use arrangement" but has not yet exercised its right to treat the asset as its own, the client money rules or the custody rules will continue to apply as appropriate
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| until such time as the firm exercises its right, at which time CASS {{cassprov|3.2.2}}R will apply. <br>
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| CASS {{cassprov|3.2.4}}<br>
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| When appropriate, firms that enter into the arrangements with retail clients3covered in this chapter will be expected to identify in the statement of custody assets sent to the client in accordance with COBS {{cobsprov|16.4}} (Statements of client designated investments or client money) details of the assets which form the basis of the arrangements. Where the firm utilises global netting arrangements, a statement of the assets held on this basis will suffice. <br>
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