INMA 5.5.8 Duty to keep money segregated

(1) Except as provided in this Part, an investment business firm must not pay its own money into a client bank account.
(2) If an investment business firm considers it prudent to do so, the firm may pay its own money into a client bank account to protect client money in the account.
(3) An investment business firm may hold money (other than client money, or the firm's own money) in a client bank account if (and only if) the money:
(a) is a minimum sum required to open the account or to keep it open;
(b) is temporarily in the account in accordance with rule 5.5.10(3) (which relates to mixed remittances);
(c) is excess interest that has not been paid out of the account; or
(d) is to meet any shortfall.
Example

An investment business firm may pay money into a client bank account for bank fees and charges payable on the account.
(4) Any money paid into a client bank account under subrule (3) becomes client money for the purposes of the client money protection rules and the client money distribution rules.

Note Client money protection rules and client money distribution rules are defined in the glossary.
Derived from QFCRA RM/2014-4 (as from 1st January 2015).