Holding your Money. 3.1.2.1 Your money will be held by XXXX as client money in accordance with the applicable FCA client asset regulations (“CASS Regulations”), which among other things, require IBUK to hold your money in one or more client bank accounts segregated from XXXX’s own funds. To the extent permitted by the CASS Regulations, IBUK may allow another organisation, such as an exchange, clearing house or an intermediate broker, which may include affiliates, to hold or control client money for the purpose of a transaction for you through or with that organisation, or to meet any obligation.
3.1.2.2 As permitted under FCA Rules, your money may be held in a client money bank account with a notice period of up to 95 days for any withdrawals. This means that there is a risk that your money may not be immediately available for withdrawal on demand particularly in the unlikely event of an unprecedented and extreme increase in client withdrawals at the same time. However, we endeavour to manage that risk through a periodic review of our cash flows and liquidity and ensuring we have adequate client money to meet your requirements.
3.1.2.3 Where IBUK holds your money in such client bank account(s) it may be pooled with the money of other clients of IBUK. This means that in the event of XXXX’s failure you do not have a claim against a specific sum held in a specific account, but your claim is only for a share of the total client money held in that pool. Any shortfall in client money held in that pool would be borne by you rateably in accordance with your entitlements in respect of the client money held for clients on this basis. In such circumstances, you may not receive an amount equal to the individual sum owing to you. Where IBUK holds client money, interest will be payable on any client money held at the interest rates specified on the IBUK website (see “Interest Rates” under “Pricing”).
3.1.2.4 IBUK will exercise due skill, care and diligence when selecting a bank or banks to hold this client money and will periodically review the bank or banks it has selected to hold client money as required under CASS Regulations. However, XXXX is not responsible under any circumstances for any facts, omissions or default of any bank chosen by it to hold client money. In the event of the insolvency or any other analogous proceedings of a third party holding client money, any shortfall in the amount of money in the relevant client bank accounts may be insufficient to satisfy the claim of all...
Holding your Money. For transactions subject to this Agreement, we provide client money and custody services directly, subject to the FCA Rules. Your money will be held by us as client money in accordance with the applicable FCA client asset regulations (“CASS Regulations”), which among other things, require us to hold your money in one or more client bank accounts segregated from our own funds. We may allow another organisation, such as an exchange, clearing house or an intermediate broker, to hold or control client money for the purpose of a transaction for you through or with that organisation, or to meet any obligation. We will exercise due skill, care and diligence when selecting a bank or banks to hold this client money and will periodically review the bank or banks it has selected to hold client money as required under CASS Regulations. However, we not responsible under any circumstances for any facts, omissions or default of any bank chosen by it. In the event of the insolvency or any other analogous proceedings of a third-party holding client money, any shortfall in the amount of money in the relevant client bank accounts may be insufficient to satisfy the claim of all clients in respect of those accounts and you will share proportionally in the shortfall with other creditors of the third party. Where your money is held in a credit institution or bank outside the United Kingdom or the European Economic Area (“EEA”), to the extent permitted by the CASS Regulations, the legal and regulatory regime applying to such credit institution or bank may differ to that applicable in the UK or the EEA and your rights in relation to that credit institution may be treated differently to the way it would be treated if it were held in the United Kingdom and the UK Financial Services Compensation Scheme does not apply
Holding your Money. 3.1.1.1 Your money will be held by IBLUX as client money in accordance with the applicable Client Assets Rules, which among other things, require IBLUX to hold your money in one or more bank accounts segregated from IBLUX’s own funds. We may allow another organisation, such as an exchange, clearing house or an intermediate broker, which may include affiliates, to hold client money for the purpose of a Transaction for you through or with that organisation, or to meet any obligation.
3.1.1.2 Where IBLUX holds your money in such bank account(s) or with other organisations, it may be pooled with the money of other clients of IBLUX. This means that in the event of IBLUX’s failure you do not have a claim against a specific sum held in a specific account, but your claim is only for a share of the total client money held in that pool. Any shortfall in client money held in that pool would be borne by you rateably in accordance with your entitlements in respect of the client money held for clients on this basis. In such circumstances, you may not receive an amount equal to the individual sum owing to you.
3.1.1.3 IBLUX will exercise due skill, care and diligence when selecting a bank or banks to hold this client money and will periodically review the bank or banks it has selected to hold client money. However, IBLUX is not responsible under any circumstances for any facts, omissions or default of any bank chosen by it. In the event of the insolvency or any other analogous proceedings of a third party holding client money, any shortfall in the amount of money in the relevant client bank accounts may be insufficient to satisfy the claim of all clients in respect of those accounts and you will share proportionally in the shortfall with other creditors of the third party.
3.1.1.4 Where your money is held with a bank or other organisations outside Luxembourg or the European Economic Area (“EEA”), to the extent permitted by the Client Assets Rules, the legal and regulatory regime applying to such credit institution or bank may differ to that applicable in Luxembourg or the EEA and your rights in relation to that bank or other organisation may be treated differently to the way it would be treated if it were held in Luxembourg. Therefore, an insolvency at the level of this bank or other organisation may lead to the inability of such bank or organisation to repay your money.
3.1.1.5 You expressly consent to the fact that some of your money may be invested in eligible and liq...
