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).|