6. Operation of a Client Account

(1) A "Client Account" in relation to Client Money is an account that –
(a) is held with a bank authorised to accept deposits,
(b) is established to hold Client Money, and
(c) includes words "Client Account", or words to similar effect, in its title,
having regard to any guidance issued by the Registrar.
(2) A Licensed Firm must maintain a master list of all Client Accounts. The master list must detail in respect of each Client Account–
(a) the name of the account,
(b) the account number,
(c) the location of the account,
(d) the banker or custodian, its address and contact information,
(e) the account terms and conditions,
(f) whether the account is currently open or closed, and
(g) the date of opening or closure.
(3) The details of the master list must be documented and maintained for at least six years following the closure of an account in accordance with the record keeping requirements set out in Rule 16.