Your Money Sample Clauses
Your Money. We will deal with your money in accordance with the client money regulations of the FCA. You grant to us the right (following your initial investment or any further investments) to hold your uninvested cash in a client bank account pending investment. We will not pay interest on money held in our client bank account unless we notify you otherwise. After termination of this Agreement, we may, subject to the applicable rules, retain your money for our own discretion if it remains unclaimed for a period of at least six years and provided that we have taken reasonable steps to trace you and return the balance.
Your Money. 15.1 We will treat any money we hold on your behalf as Client Money, and therefore hold your money in a segregated Client Money bank account.
15.2 We will hold your (and other customers') Client Money in a pooled client bank account with one or more third party bank or credit institutions, the identity of which is available on our Website. We will not be responsible for the acts or omissions of any third-party bank or credit institution holding your money. We may place funds in notice or term deposit accounts with a notice period or term of up to 95 days. Placing client money in notice or term deposit accounts does not in itself affect your ability to deal with or withdraw funds from your Account with us, however in the unlikely event of insolvency of OANDA Global Markets Limited, such amounts may not be immediately available upon request.
15.3 We will not pay interest on any Client Money that we hold on your behalf and by entering into this agreement you acknowledge that you therefore waive any entitlement to interest.
15.4 You agree that we may transfer Client Money to a third party as part of a transfer of all or part of our business.
Your Money. 11.1 Your money shall be treated, at all times, in accordance with the applicable ‘client money’ rules, as amended from time to time.
11.2 Unless otherwise indicated, we will deposit your money in one or more segregated custody accounts (“the Custody Account”) held with a regulated financial institution within or outside the European Economic Area (‘EEA’), separated from the VFM Brokers’ money. This means that all client money is treated as belonging to our Clients and under no circumstance we will use it to meet any of our obligations, at any time. Your money will be pooled with money belonging to other Clients in a segregated account, which shall act as an omnibus account. You understand that VFM Brokers reserves the right to place up to 80% of clients’ funds in money market instruments of high quality and high liquidity such as investment grade governmental bonds and investment grade corporate bonds with a weighted average maturity of no more than 12 months, through a custody account or accounts; such Custody Account will be a custody account for the receipt, safekeeping and maintenance of the securities and/or instruments referred to above. By accepting this Client Agreement, the Client authorises VFM Brokers to establish on its books the ‘Custody Account’. Further, the Client understands and accepts that the Custody Account will be in the name of ‘VFM Brokers (client money)’, or such other respective name as may reasonably be designated and will indicate that securities and/or instruments do not belong to VFM Brokers and are segregated from the VFM Brokers’ assets. VFM Brokers will be carrying out reconciliations of the Custody Account, on a regular basis, and at reasonable intervals, to ensure that any corresponding payment into, or withdrawal from, the Custody Account is made, as appropriate so that the client funds are unaffected from any losses incurred and/or interest received from placing the funds in money market instruments.
11.3 In general, accounts held with financial institutions, including omnibus accounts, face various risks, including potentially being treated as one account in case the institution defaults. Under such circumstances, the enforcement of the national deposit guarantee scheme may apply without consideration of the ultimate beneficial owners of an omnibus account.
11.4 The funds held in the segregated account may be exposed to obligations of VFM Brokers connected with the positions of other Clients.
11.5 We will exercise rea...
Your Money. 12.1. We will normally settle transactions on a Delivery Versus Payment basis and when we do this any money received by us will not usually be eligible to be treated as client money under the FCA CASS Rules and will therefore not usually be eligible to be segregated from our own accounts.
12.2. If any money held on your behalf qualifies as client money for the purposes of the FCA CASS Rules, we, and any third party who we authorise to hold your money, will deal with your money in accordance with those rules and hold it in a segregated bank account, alongside the money of our other clients.
12.3. You agree that we will not pay you any interest on any client money held by us.
12.4. When considering which third party bank to use to hold client money, we will exercise all due skill, care and diligence and will periodically (at least annually) review the adequacy and appropriateness of any bank where your money is deposited and of the arrangements for holding your money, in accordance with the FCA CASS Rules. We will not be responsible for any acts, omissions or default of the third party bank.
12.5. If necessary, we may also allow another institution (either in the UK or in a jurisdiction outside the UK) such as an exchange, clearing house, overseas settlement agent or other intermediate broker to hold or control your money, but only if we transfer your money for the purpose of a transaction through or with that person or to meet any obligation that you may have to provide collateral for a transaction. If we do this, we will endeavour to ensure your money is held as client money under the FCA CASS Rules or an equivalent regulatory regime.
12.6. In the event of our failure (for example due to insolvency), any money held in a client money account by third parties will be segregated from our other assets and will not be available to our creditors. However, in the event of failure (for example due to the insolvency) of a third party, there may be a number of consequences for your money. These are detailed further below:
(a) Pooled account: because your client money will be held with other customers’ money in a pooled client money account, in the event that the third party bank holding the money defaults and there is a shortfall, you will share proportionately in that shortfall with other creditors of the bank where your client money is deposited;
(b) Non-UK bank accounts: You should be aware that, where your money is required to be held in a bank located in a juri...
Your Money. Your money will be held in the Corporate Client Account of Blackfinch held by Blackfinch Corporate Services Limited. The loans will be entered into through our Nominee Company. You grant to Blackfinch the right to hold your unadvanced cash in such an account until or unless it is transferred to the relevant borrower. Our Nominee Company, as soon as is reasonably practical, will claim and account for all interest and other payments or entitlements received and due to you, but is entitled to deduct or withhold any sum on account of any tax required to be so deducted or withheld and provide you with evidence of such deduction or withholding for your tax records. Your money may be transferred to third parties for the purposes of settling transactions in accordance with any applicable rules. After termination of the Agreement, we may, subject to the applicable rules, retain your money for our own discretion if it remains unclaimed for a period of at least 6 years and provided that we have taken reasonable steps to trace you and return the balance.
Your Money. 15.1 We will treat any money we hold on your behalf, irrespective of your classification as a Retail or Professional client, as Client Money in accordance with the FCA's Client Money Rules, and therefore hold your money in a segregated Client Money bank account.
15.2 We will hold your (and other customers') Client Money in a pooled client bank account with one or more third party bank or credit institution in the UK, that we choose in accordance with the Client Money Rules. We will not be responsible for the acts or omissions of any third party bank or credit institution holding your money. We may place funds in notice or term deposit accounts with a notice period or term of up to 95 days. Placing client money in notice or term deposit accounts does not in itself affect your ability to deal with or withdraw funds from your account with us, however in the unlikely event of insolvency of OANDA Europe Limited, such amounts may not be immediately available upon request.
15.3 We will not pay interest on any Client Money that we hold on your behalf and by entering into this agreement you acknowledge that you therefore waive any entitlement to interest under the Client Money Rules or otherwise.
15.4 If there has not been any movement on your Client Money balance for six years (disregarding any payment or receipt of interest, charges or similar items) and we have not been able to trace you despite having taken reasonable steps to do so, you consent to us paying your Client Money to a registered charity of our choice in accordance with the Client Money Rules. We will take reasonable steps to trace you and return your Client Money to you before donating it to charity. We (or another member of our group) will repay a sum equal to sum paid away in the event that you claim it in the future.
15.5 You agree that we may transfer Client Money to a third party as part of a transfer of all or part of our business in accordance with the Client Money Rules. Any sums transferred will be held in accordance with the Client Money Rules or, where this is not the case, we will exercise all due skill, care and diligence in assessing whether adequate measures are in place to protect such sums.
Your Money. 9.1 We are not permitted by the FCA to hold client money; we have appointed CUSTODIANS to arrange the safekeeping and administration of client money.
9.2 The CUSTODIANS have authority to engage one or more third parties, selected at their discretion to provide clearing, settlement, safe custody, nominee and associated services to you and to change the third party they have selected without your consent (each where appropriate, collectively referred to as the “Custodian”).
Your Money. We are obliged to treat money held by us on your behalf in accordance with the Client Money Rules of the FCA. Among other things, these require us to hold your money segregated from our money and at an approved bank for the purpose. Your money will be held as client money in a client account or accounts, maintained in accordance with the rules of the FCA, with such authorised institutions in the UK as we may determine from time to time, and will be paid into the account or accounts as soon as possible, and in any event no later than the next business day after receipt. Part of the total of all clients’ money may be placed on fixed term deposit with a range of financial institutions in the UK. We will not be responsible for third party financial institutions where it has exercised due skill, care and diligence in the selection, appointment and periodic review of their arrangements. However we will maintain written notice from any financial institution with which we place your money that all money standing to the credit of the account is held by the firm as trustee (or if relevant, as agent) and that the bank is not entitled to combine the account with any other account or to exercise any right of set-off or counterclaim against money in that account in respect of any sum owed to it on any other account of the firm; and the title of the account sufficiently distinguishes it from any account containing money that belongs to the firm. This acknowledgement of trust will ringfence your money in the event of the insolvency of the bank, in which circumstance you may also be covered by the Financial Services Compensation Scheme, further details of which are provided in section 25 of this Agreement. Money held by us on your behalf may be passed to an intermediate broker, settlement agent or counterparty located outside the UK for the purpose of settling transactions. In these circumstances, the legal and regulatory regime applying to that person may be different from that of the UK. In the event of the insolvency of that person (or any similar circumstances arising), your money may be treated differently from the manner in which it would be treated if your money had passed to an intermediate broker, settlement agent or counterparty within the UK. Your money will therefore only be passed to such parties for settlement where the nature of the investment in question makes it necessary. Interest will be allocated pro-rata to each client account and paid in full at the e...
Your Money. Subject to Clause 31 (Title Transfer Collateral Arrangement) of this Ebury Markets Agreement, your money held with Ebury Markets in the Client Money Accounts shall be treated as Client Money in accordance with the Client Money Rules.
Your Money. 15.1 We will treat any money we hold on your behalf, irrespective of your classification as a Retail or Professional Client, as Client Money in accordance with the Investment Services Act (Control of Assets) Regulations of Malta, and therefore hold your money in a segregated Client Money bank account.
15.2 We will hold your (and other customers') Client Money in a pooled client bank account with one or more third party bank or credit institution, that we choose in accordance with the Control of Assets Regulations. We will not be responsible for the acts or omissions of any third party bank or credit institution holding your money.
15.3 We will not pay interest on any Client Money that we hold on your behalf and by entering into this agreement you acknowledge that you therefore waive any entitlement to interest under the Control of Assets Regulations or otherwise.
15.4 You agree that we may transfer Client Money to a third party as part of a transfer of all or part of our business in accordance with the Control of Assets Regulations. Any sums transferred will be held in accordance with these regulations, where this is not the case, we will exercise all due skill, care and diligence in assessing whether adequate measures are in place to protect such sums.