FCA Client Money and Custody Rules Sample Clauses

FCA Client Money and Custody Rules i. The third-party broker/ custodian may be located outside the European Economic Area or outside of the United Kingdom. They may deposit and hold money, securities and other assets (including, but not limited to, collateral and safe custody investments) in accounts that are located outside of the United Kingdom or the European Economic Area. The legal, regulatory, and settlement regime applicable to other brokers or Affiliates and to the entities in which Clients’ money, securities and other assets will be held may be different from that of the United Kingdom (i.e., any client money and custody Rules promulgated by the FCA will not apply) or the rules within if outside the European Economic Area. Among other things, different practices for the separate identification of clients money, securities, and assets may apply and, in the event of a default of Client’s money, securities and assets may be treated differently from the position that would apply if the money, securities or assets were held in the United Kingdom or within the European Economic Area. To the extent that another broker or Affiliate holds Client’s money, securities, or other assets, the broker or Affiliate will hold such money, securities, and assets in accordance with the rules of their respective jurisdiction and where assets are held in an Omnibus Account in the United States of America, the Securities and Exchange Commission ("SEC") and the U.S. Commodity Futures Trading Commission ("CFTC"), as applicable.