To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions. CASS 7 Annex 2 - for client money bank accounts CASS 7 Annex 3 - for client money transaction accounts Whilst the introduction of the standard templates were welcomed by industry the templates are notoriously difficult to correctly execute and due to the importance of this document, any errors or omissions are generally considered as a breach of the CASS rules by CASS auditors. The biggest change in this area is that all banks which client money is held at will need to sign an ‘acknowledgement letter’ sent by the firm. provided that you have a contractual right to retain such money under (1) or (2) and that this right is notwithstanding paragraphs (a) to (c) above and without breach of your agreement to paragraph (d) above. If you do not allow these cookies then some or all of these services may not function properly. [letterhead of firm subject to (g) you are not responsible for ensuring compliance by us with our own obligations, including as trustee, in respect of the Client Bank Account[s]. In relation to [each of] the Client Bank Account[s] identified above you acknowledge that we have notified you that: (a) we are under an obligation to keep money we hold belonging to our clients separate from our own money; (b) we have opened, or will open, the Client Bank Account for the purpose of depositing money with you on behalf of our clients; and. They help us to know which pages are the most and least popular and see how visitors move around the site. (m) the courts of [insert same jurisdiction as previous] shall have non-exclusive jurisdiction to settle any dispute or claim arising out of or in connection with this letter or its subject matter or formation (including non-contractual disputes or claims). We remind you that, pursuant to the rules of the Financial Conduct Authority, we are not allowed to use the Client Bank Account[s] to deposit any money belonging to our clients with you until you have acknowledged and agreed to the terms of this letter. In relation to [each of] the Client Bank Account[s] above you agree that: (d) you do not have any recourse or right against money in the Client Bank Account in respect of any sum owed to you, or owed to any third party, on any other account (including any account we use for our own money), and this means for example that you do not have any right to combine the Client Bank Account with any other account and any right of set-off or counterclaim against money in the Client Bank Account; (e) you will title, or have titled, the Client Bank Account as stated above and that such title is different to the title of any other account containing money that belongs to us or to any third party; and. This may impact the content and messages you see on other websites you visit. This needs to be in place by 1 December 2014. A letter format designed specifically for letters that are challenging to write, like letters of recommendation or resignation letters, is particularly useful. They do not store directly information which allows us to identify you personally but are based on uniquely identifying your browser and internet device. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. Please sign and return the enclosed copy of this letter as soon as possible. Writing a Complaint Letter to an Attorney (with Sample) Writing a Bank Account Cancellation Letter (with Sample) Writing a Real Estate Contract Termination Letter (with Sample) (2) until the fixed term expires, any amounts held for the time being under a fixed term deposit arrangement which cannot be terminated before the expiry of the fixed term. A Debt Acknowledgment Form is usually quite a short document, containing only the basic and required facts about the parties' transaction and the money owed. To improve our site uses cookies to distinguish you from other users of our site enable... Money trust Annex contains guidance on the use of cookies by the FCA Handbook and our selected partners click... All information these cookies collect is aggregated and therefore anonymous – client money those companies to build a of. 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