Confidence in the arrangements for protecting client assets was badly hit during the financial crisis, with the Lehman client money litigation demonstrating the serious consequences of failures in client money and asset protection. The FSA has emphasised the importance it places on client money and assets protection through communications and through its recent enforcement actions. Indeed, the FSA has described ensuring that client money and assets are adequately protected as its regulatory "mission".
Click here to view our briefing. This article was first published on www.complinet.com on 31 January 2011.
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.