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Clients Money Presentation 28 April 2009

Commission staff gave a presentation on the subject of client bank accounts at the Manx Museum on Wednesday 22 April. The slides from the presentation can be found here. Please bear in mind when viewing the slides that the pooling arrangements as described currently only apply to licenceholders in Classes 2 and 3. However, a proposed extension to Classes 4 and 5 will be the subject of consultation in the summer of 2009.

Following the presentation, some licenceholders have suggested to the Commission that pooling should be limited to “general” accounts and that “separate” accounts and subscription and redemption accounts (for funds) should be moved outside the pooling arrangements. This question will be raised in the Rule Book review.

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