• COBS 14.1.4 COBS 14.1.4 Holding or Controlling Client Assets or Relevant Money

    Client Assets or Relevant Money are held or controlled by an Authorised Person if they are:

    (a) directly held by the Authorised Person;
    (b) held in an account in the name of the Authorised Person; or
    (c) held by a Person, or in an account in the name of a Person, controlled by the Authorised Person.

    • Guidance

      1. The Regulator would consider a Person to be controlled by an Authorised Person if that Person is inclined to act in accordance with the instructions of the Authorised Person.
      2. The Regulator would consider an account to be controlled by an Authorised Person if that account is operated in accordance with the instructions of the Authorised Person.