COB A6.5.1

(1) Before an Authorised Firm holds a Safe Custody Investment with a Third Party Agent, it must undertake an assessment of that Third Party Agent and have concluded on reasonable grounds that the Third Party Agent is suitable to hold those Safe Custody Investments.
(2) An Authorised Firm must have systems and controls in place to ensure that the Third Party Agent remains suitable.
(3) When assessing the suitability of the Third Party Agent, the Authorised Firm must ensure that the Third Party Agent will provide protections equivalent to the protections conferred in this appendix.
Derived from DFSA RM56/2008 (Made 1st July 2008). [VER14/07-08]
[Amended] DSFA RM185/2016 (Made 7th December 2016). [VER28/02-17]