INMA 5.2.2 Client money
(1) Client money of an investment business firm is money:
(a) that the firm receives from or holds for a customer in the course of, or in connection with, conducting investment and advisory business in or from the QFC; or
(b) that the firm treats as client money in accordance with this Chapter.
(2) However, money that the firm receives or holds that would otherwise be client money is not client money if an exception in Part 5.3 (Money that is not client money) applies to it.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|