Update on Client Money
On 25 January 2013, the FSA published Policy Development Update Number 155 detailing forthcoming publications from the FSA on a wide range of issues. Among the client money related updates to be expected during the course of 2013 are:
- Policy Statement relating to Part 2 of CP12/22, introducing the concept of multiple client money pools within the CASS regime. The estimated date of publication for this Policy Statement is yet to be confirmed. It represents a follow-up to PS 12/23: “Client assets regime: changes following EMIR”, published in December 2012, which dealt with the issues raised in Part 1 of CP 12/22 regarding porting and the status of Title Transfer Collateral Arrangements under EMIR.
- Policy Statement to CP 12/20, “Review of the client money rules for insurance intermediaries”. This will take the form of a review of the client money rules for insurance intermediaries and is expected to be published in Q3/Q4 2013