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CL-3.2.1

Past version: Effective from 19 Jul 2025 to 30 Jun 2007
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An investment firm licensee may only permit a client's collateral to be held by a third party where:

(a) it has reasonable grounds to believe that the third party is suitable to hold that collateral; and
(b) the investment firm licensee is able to demonstrate to the BMA's satisfaction the grounds upon which it considers the third party to be suitable to hold clients' collateral.