INMA 5.5.13 When client money need not be paid into client bank account

(1) The requirement to pay client money into a client bank account does not apply to client money received in the form of a cheque until the investment business firm concerned receives the proceeds of the cheque.
(2) That requirement does not apply to client money temporarily held by the firm before forwarding it to a person nominated by the customer concerned.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).