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  • Transfer of Money to Eligible Third Parties

    • MIR-4.7.15

      The member may only pay, or permit to be paid, clients money into an account of a person who is a counterparty of the securities transaction, in accordance with the applicable clearing, settlement and central depository rules.

      Adopted January 2010

    • MIR-4.7.16

      The member must not hold money other than client money in a client bank account unless it is:

      (a) A minimum sum required to open the account or to keep it open;
      (b) Money temporarily held in the account in accordance with the mixed remittance requirements; or
      (c) Interest credited to the account which exceeds the amount due to clients as interest and which has not yet been withdrawn by the client or the member.
      Adopted January 2010

    • MIR-4.7.17

      If a member receives a mixed remittance (that is part client money and part other money), it must:

      (a) Pay the full sum into a client bank account; and
      (b) Pay the money that is not client money out of the client bank account within the same business day or otherwise as per provision of the agreement under rule MIR-4.7.7 (b).
      Adopted January 2010