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CL-1.1.9

Past version: Effective up to 30 Jun 2007
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For the purposes of CL-1.1.8, when undertaking due diligence, the investment firm licensee should take reasonable steps to establish that the bank is appropriate considering, among other factors, the following:

(a) whether it is a duly licensed bank in good regulatory standing;
(b) the capital adequacy of the bank;
(c) the amount of client money to be placed, as a proportion of the bank's capital and deposits; and
(d) the credit rating of the bank, if available.