Clients money rules falling by wayside
A recent seminar held by Clyde & Co and KPMG has highlighted key areas where companies are consisten...
A recent seminar held by Clyde & Co and KPMG has highlighted key areas where companies are consistently failing when it comes to client money rules. Failures included:
- ensuring that bank accounts have the appropriate trust status;
- that accounts are adequately documented and funded;
- reconciliations are accurate and timely;
- appropriate agreement exists between parties.
The client money rules for brokers, introduced by the Financial Services Authority (FSA), represented a significant change for
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