Regulatory Alerts2017-04-16
Proposed Module CL Defined Terms for Conventional Bank Licensees' Client Money Module
The regulator proposes adding defined terms to the glossary of Volume 1 for conventional bank licensees. These amendments establish precise meanings for "client", "Designated Bank", and "Eligible Third Party" to support the Client Assets module. By clarifying these relationships, the rules ensure that client funds are properly consented to and held through approved exchanges, clearing houses, or intermediate brokers.
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