IMEB 4.3.3 Client money received after third party-related distribution event

(1) Client money received by a firm after a third party-related distribution event must not be paid to the eligible bank, or transferred to the eligible intermediary, that suffered the third party-related distribution event unless the client gives written instructions after the occurrence of the event to pay the money to the eligible bank or to transfer the money to the eligible intermediary to meet the client's obligation to the bank or intermediary.
(2) If the firm does not receive any instructions mentioned in subrule (1), the firm must pay the client money into a client bank account that was opened with another eligible bank after the third party-related distribution event.

Note Third party-related distribution event, eligible bank and eligible intermediary are defined in the glossary.
Derived from QFCRA RM/2011-3 (as from 1st July 2011)