Regulatory Alerts2017-07-28
Added · Updated
PS18/2: Client money and unbreakable deposits
The Financial Conduct Authority amends the Client Assets sourcebook to permit regulated firms to deposit an appropriate proportion of client money in unbreakable deposits with terms up to 95 days, replacing the previous 30-day limit. Firms utilizing these extended deposits must provide written risk explanations to clients, maintain a written policy on maximum proportions, and take appropriate measures to manage liquidity risks. The final rules come into force on 22 January 2018 and include transitional provisions for existing individual rule modifications.
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