The beginning of the Financial Services Authority (FSA) consultation on client money rules has brought how brokers manage their accounts firmly into focus.
The consultation was kick-started at the end of August following an FSA review of chapter five of the client asset sourcebook (CASS 5).
In short, the FSA harbours fears that some brokers may have failed to grasp the rules, possess missing or incomplete documentation and are, generally, poorly compliant. And, cutting through the jargon, the sp
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