INMA 6.1.12 Use of eligible custodians
(1) An INMA firm may hold a custody investment with an eligible custodian if (and only if):
(a) under the laws applying to the investment, it will be recognised as segregated from, and will not form part of, the firm's assets in its insolvency; and
(b) after making the assessment described in rule 6.1.13, the firm is satisfied that the custodian is a suitable person to hold the investment.
(2) The INMA firm must have systems and controls to ensure that:
(a) the requirements of subrule (1) (a) continue to be met; and
(b) the assessment made for subrule (1) (b) remains correct.
|Derived from QFCRA RM/2014-4 (as from 1st January 2015).|