Regulatory Alerts2026-07-20
Added · Updated
GFSC Guidance Note on Payments and Electronic Money Safeguarding
Safeguarding institutions must maintain a safeguarding resolution pack to enable the timely return of client funds in insolvency and assist the GFSC. Relevant funds must be segregated from other client funds, with specific rules governing the segregation method using GFSC-approved secure liquid assets or the insurance/guarantee method. Institutions are required to promptly identify and allocate receipts, treat unidentified funds as unallocated relevant funds, and ensure third-party acknowledgement letters accurately reflect account details and waive third-party recourse rights.
Topics
safeguarding
Share