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Tip of the Week

Client Money should not be recorded as an asset of the firm

By 10th July 2023July 11th, 2023No Comments

In order to meet the Financial Conduct Authority’s requirements you must not include balances held in client trust accounts as an asset of your firm when completing Section A of the RMAR on RegData.  This is because funds held in trust accounts (statutory and non statutory) do not legally belong to the firm.