INMA 5.5.7 Accounting for client money

(1) An investment business firm must ensure that it can promptly and accurately account for client money that it receives or holds.
(2) Without limiting subrule (1), the firm must have procedures:
(a) to enable it to identify and trace client money that it receives (electronically, by post, through an agent or by any other means) or holds;
(b) to promptly record the receipt of all client money;
(c) to ensure that, except as permitted by these rules, client money is not mixed with other money; and
(d) to enable it to produce accurate accounting records showing how much client money has been transferred to customers and other persons.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).