• INMA Part 5.4 INMA Part 5.4 Receipt of client money by advisory firms

    • INMA 5.4.1 Advisory firms receiving client money

      (1) An advisory firm must immediately return to the customer any money that it receives from a customer if none of the exceptions in Part 5.3 (Money that is not client money) applies to the money.
      (2) The firm must make and retain:
      (a) a record of all money to which subrule (1) applies; and
      (b) for a payment made by cheque — a copy of the cheque.
      (3) The record must include the following details:
      (a) the customer's name;
      (b) the date on which the money was received by the firm;
      (c) the date on which the money was returned to the customer.
      Derived from QFCRA RM/2014-4 (as from 1st January 2015).