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  • COB A5.3.5 COB A5.3.5

    Where an Authorised Firm is aware that a Person may make a payment of Client Money to the Authorised Firm, it must take reasonable steps:

    (a) to ensure that such payment of Client Money is directed to a Client Account; and
    (b) to ensure that the Authorised Firm is notified by that Person of such payment as soon as reasonably practicable.
    Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]

    • COB A5.3.5 Guidance

      An Authorised Firm should have procedures for identifying Client Money received by the Authorised Firm, and for promptly recording the receipt of the Money either in the books of account or a register for later posting to the Client cash book and ledger accounts. The procedures should cover Client Money received by the Authorised Firm through the mail, electronically or via agents of the Authorised Firm or through any other means.

      Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]