CL-1.2.3

Past version: Effective from 01 Apr 2012 to 30 Jun 2023
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Records of the insurance broker and appointed representative must clearly show funds received and paid out allocated per client/transaction. For greater clarity, all client money and receivables from clients are to be shown on the balance sheet as fiduciary assets and there must be an offsetting fiduciary liability, representing the amounts payable by the insurance broker to the insurance firm (See Rule CL-1.3.4).

April 2012