Common use of Client Money Clause in Contracts

Client Money. FIM operates a pooled arrangement for holding client money in accordance with The FSA Financial Services Rule Book. What is a client bank account? A client bank account is a bank account held by, and in the name of, FIM Capital Limited Client Account, in which we will hold your money on trust for you while it remains in the account. All money held in a client bank account is referred to as client money. A client bank account is specially created by us for the purpose of holding your money and the money of other clients. The client bank account is segregated from any other bank account in our name holding money which is our money. All client bank accounts are held at recognised banks. A recognised bank is a bank which holds a licence issued by The FSA for deposit taking or is authorised under the law of another acceptable country or territory to carry on activities corresponding to deposit taking. A general client bank account usually holds money of several clients. The money may be held at one bank or the money may be in multiple bank accounts spread across several banks. In the event of a default of a bank where we have a general client bank account, client monies held in all of our general client bank accounts will be pooled (even if money is held in more than one general client bank account and the accounts are held in more than one bank). In this situation, each client who has money in the general client bank account will lose an equal proportion of their money, whether or not the bank your client money is held with is in default. This loss will be adjusted by any compensation arrangements in place.

Client Money. FIM operates a pooled arrangement for holding client money in accordance with The FSA Financial Services Rule Book. What is a client bank account? A client bank account is a bank account held by, and in the name of, FIM Capital Limited Client Account, in which we will hold your money on trust for you while it remains in the account. All money held in a client bank account is referred to as client money. A client bank account is specially created by us for the purpose of holding your money and the money of other clients. The client bank account is segregated from any other bank account in our name holding money which is our money. All client bank accounts are held at recognised banks. A recognised bank is a bank which holds a licence issued by The the FSA for deposit taking or is authorised under the law of another acceptable country or territory to carry on activities corresponding to deposit taking. A general client bank account usually holds money of several clients. The money may be held at one bank or the money may be in multiple bank accounts spread across several banks. In the event of a default of a bank where we have a general client bank account, client monies held in all of our general client bank accounts will be pooled (even if money is held in more than one general client bank account and the accounts are held in more than one bank). In this situation, each client who has money in the general client bank account will lose an equal proportion of their money, whether or not the bank your client money is held with is in default. This loss will be adjusted by any compensation arrangements in place.

Client Money. FIM operates a pooled arrangement for holding client money in accordance with The FSA Financial Services Rule Book. What is a client bank account? A client bank account is a bank account held by, and in the name of, FIM Capital Limited Client Account, in which we will hold your money on trust for you while it remains in the account. All money held in a client bank account is referred to as client money. A client bank account is specially created by us for the purpose of holding your money and the money of other clients. The client bank account is segregated from any other bank account in our name holding money which is our money. All client bank accounts are held at recognised banks. A recognised bank is a bank which holds a licence issued by The FSA for deposit taking or is authorised under the law of another acceptable country or territory to carry on activities corresponding to deposit taking. A general client bank account usually holds money of several clients. The money may be held at one bank or the money may be in multiple bank accounts spread across several banks. In the event of a default of a bank where we have a general client bank account, client monies held in all of our general client bank accounts will be pooled (even if money is held in more than one general client bank account and the accounts are held in more than one bank). In this situation, each client who has money in the general client bank account will lose an equal proportion of their money, whether or not the bank your client money is held with is in default. This loss will be adjusted by any compensation arrangements in arrangementsin place.