Client assets: mandates (superseded with effect from 1 January 2013)

Resource type: Practice note

Status: Law stated as at 31-Dec-2012

Jurisdiction: United Kingdom

An outline of the FSA's rules and guidance in chapter 8 of the Client Assets sourcebook (CASS 8) that dealt with firms holding mandates or other written client authorities which allow them to control clients' assets or liabilities.

The version of the CASS 8 rules covered in this note was replaced on 1 January 2013 with a revised set of rules on mandates. The new rules clarify the scope of the mandate rules, bringing the Handbook text into line with the FSA's long-held policy intentions. The new rules do not change the internal controls required by the mandate rules, nor do they change the purpose of the rules. For more information, see the recent developments section of this note.

PLC Financial Services

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  • Resource ID: 9-509-3810
  • Law stated date: 31-Dec-2012
  • Products:  PLC UK Financial Services
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