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  • CL-B.2 CL-B.2 Overseas Subsidiaries and Branches

    • CL-B.2.1

      Investment firm licensees must ensure that their branches and subsidiaries operating in foreign jurisdictions comply, at a minimum, with local client asset rules (where applicable).

    • CL-B.2.2

      Where client asset rules applied by overseas branches and subsidiaries of an investment firm licensee fall below the standards set out in this Module, the investment firm licensee must notify the CBB of the fact.

      Amended: January 2007

    • CL-B.2.3

      The CBB encourages its investment firm licensees to apply — with respect to its overseas branches and subsidiaries — client asset rules at least equivalent to those set out in this Module. Where this is not the case, then the CBB will consider any potential risk to the investment firm licensee that may arise through adverse reputational or other consequences.

      Amended: January 2007