INMA 6.1.15 Guidance

The permission need not be specific but may be a general permission given as part of the customer's acceptance of an appropriate statement (about the use of the customer's custody investments) in the firm's terms of business.

Note Under CIPR, Parts 4.4, 5.2 and 5.2, an investment business firm must give a customer a statement, in writing, of the terms and conditions on which the firm will conduct investment business for the customer.

Amended by QFCRA RM/2019-4 (as from 1st January 2020).