DvP Exemption definition

DvP Exemption means the exemption available to PSL under (i) 6.1.12R (in respect of client assets), (ii) 7.2.8AAR (in respect of client money from 1 December 2014 until 31 May 2015), or (iii) 7.11.14R (in respect of client money from 1 June 2015) of the CASS Rules and which sets out the limited circumstances in which PSL need not comply with either the custody rules or the client money rules, as appropriate, in respect of the Client’s relevant cash or Financial Instruments.
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DvP Exemption means the exemption under the FCA Rules which allows a firm to temporarily dis-apply the custody rules or the client money rules in relation to money or assets held where the transaction is conducted on a Delivery vs Payment basis;
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DvP Exemption means the exemption under CASS 7.11.14 of the FCA Rules as amended, substituted or replaced from time to time.
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Examples of DvP Exemption in a sentence

  • In summary, the DvP Exemption allows the Custodian to dis-apply the FCA Rules relating to your Securities for a short period of time when settling your transaction within a Commercial Settlement System, subject always to applicable FCA Rules.

Related to DvP Exemption

  • QPAM Exemption is defined in Section 6.2(d).

  • New Exemption means the exemption from real property taxation provided hereunder with respect to the Exemption Area.

  • INHAM Exemption is defined in Section 6.2(e).

  • Statutory Exemption means the statutory exemption under Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code.

  • Section 162(m) Exemption means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.