In the event of an agreement by third parties, you must take into account who the client considers as his or her assets and whether this is sufficiently clearly reflected in third-party agreements as well as in the client`s terms and conditions. In the event of a collapse of the company or a third party, ask if a liquidator can determine who owns the assets. Would the customer finally be able to recover what belongs to them? Before setting up a secure deposit or on behalf of a client with a custodian, a company must agree in writing to the appropriate terms of sale of the custodian, including, if applicable, the extent of the custodian`s liability in the event of a loss of a depository investment caused by fraud, voluntary delay or negligence of the custodian. or an agent he ordered. If the ACF approach results in a greater restriction on the use of TCCs by businesses, it would have benefits and costs for business customers. When a company requires its customers to hold cash and assets other than a TTCA, it reduces the credit risk that customers have for the business, but the higher costs it would face will, in all likelihood, be passed on to its customers. In addition, a company that does not offer money or secure asset retention to the client may require its clients to take administrative action, such as the active transfer of .B company.B cash and surplus assets. That the custodian provide the company, on a date or date indicated by the company, with a statement containing the description and amounts of all the security depositors credited to the account; This rule recognizes that transactions sometimes have to be made on behalf of clients on their own behalf (for example. B because the counterparty concerned may have problems with the creditworthiness of the client) and this may cause the entity to hold relevant assets in its own accounts. The rule therefore appears to potentially cover the situation in which the entity acquires assets as an agent for an undisclosed investor and must therefore proceed temporarily to the transaction on the company`s accounts (before the assets in question are transferred to the client`s deposit account). CASS manages clients` assets and cash. CASS 6 processes client documents called warranty custodians.

CASS 7 handles customer money and imposes a general requirement that businesses that do not have a banking licence must place all of the money received or held in a customer`s account with an appropriate third party, such as the . B of a bank.