INMA 5.5.12 Segregating client money in other currencies

An investment business firm may segregate client money in an account denominated in a different currency from that of receipt, provided that the firm ensures that the amount held is adjusted each day so that the amount held remains at least equal to the amount received, in the original currency (or the currency in which the firm has its liability to its customer, if different), converted at the previous day’s closing spot exchange rate.

Derived from QFCRA RM/2014-4 (as from 1st January 2015).