Client Money Account definition

Client Money Account means a current or deposit account at a third party bank that is in our name, but includes in its title an appropriate description to indicate that it holds only clients’ money in accordance with our regulatory responsibility and is used to hold the money of one or more clients.
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Client Money Account means a current or deposit account opened with the Bank by IFSLfor the purposes of holding Client Money only. Each Client Money Account may hold the money of more than one investor in the Services, however, it may not hold IFSL’s own funds;
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Client Money Account means a pooled Client Money bank Account in the name of Parmenion Capital Partners Client Account held with an approved bank or credit institution as we from time to time determine.
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Examples of Client Money Account in a sentence

  • If a Third Party Account Provider has not provided the written confirmation referred to in COB 8.5.9(c) within 40 business days after the Authorised Firm made the request, the Authorised Firm must as soon as possible withdraw the Client Money held in the Client Money Account with that Third Party Account Provider and deposit them in a Client Money Account with another Third Party Account Provider.

  • Where an Authorised Firm receives or holds Client Money it must ensure (except where otherwise provided in COB 8.2.8) that the Client Money is paid into one or more Client Money Accounts within one day of receipt.Where an Authorised Firm deposits any Money into a Client Money Account, such Money is Client Money until the Money is withdrawn from the Client Money Account in accordance with the Client Money Rules.

  • An Authorised Firm must have procedures for identifying Client Money received by the Authorised Firm (by whatever means they are received) and for promptly recording the receipt of the Money either in the books of account or a register for later posting to the Client cash book and ledger accounts.An Authorised Firm must have procedures for ensuring all withdrawals from a Client Money Account are authorised and carried out in accordance with this COB 8.2.17.

  • Client Money Account: a deposit account, which is a client account as defined by CASS 7 (the FCA’s Client Asset Sourcebook).

  • It is important to note that the productivity system links directly to the billing system in order to ensure that valid claims are created for each service and payer requirements met.


More Definitions of Client Money Account

Client Money Account has the meaning given to it in clause 29.2 of this Customer Agreement
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Client Money Account means the designated client money bank account with
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Client Money Account means a bank account which meets the requirements of the FCA Client Money Rules or the equivalent provision(s) of any successor rules or regulations.
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Client Money Account means the ALT21 Client Money bank account which we specify in the Order Confirmation.
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Client Money Account means the bank account opened and maintained by SmartFunding designated to hold the Funds;
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Client Money Account means the Assure Hedge Client Money bank account which we specify in the Payment Confirmation.
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Client Money Account means a current or deposit account at a bank that is in our name. Its title will also include an appropriate description to indicate that it holds only clients’ money in accordance with our regulatory responsibilities. Each Client Money Account is used to hold the money of one or more clients.
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