CL-1.1.7

Past version: Effective from 01 Apr 2012 to 30 Jun 2023
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Client money must, upon receipt, be paid into a specifically designated client money account no later than the immediate business day after receipt. The monies in this account must form part of the fiduciary assets of the insurance broker or appointed representative and must be held in custody for the client, where the insurance broker or appointed representative acts as an agent with the client retaining full legal ownership of the funds.

April 2012