Regulatory Alerts2021-09-24
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Commission Delegated Regulation (EU) 2022/22 specifying the notion of segregated accounts for client money protection
The European Commission adopted Delegated Regulation (EU) 2022/26 to specify the conditions under which investment firms may classify client funds as held in segregated accounts for prudential capital calculation purposes. Article 1 mandates that such accounts must enable the immediate distinction of client funds from the firm's own funds, maintain accurate audit trails, undergo regular reconciliations with third-party holders, and be organizationally arranged to minimize risks of loss or misuse. This regulation supplements Regulation (EU) 2019/2033 and entered into force on 31 January 2022.
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