PS14/10: Client money held in Individual Savings Accounts and feedback to CP14/9 and final rules

Published: 01/07/2014     Last Modified: 01/07/2014

We publish amendments to client money rules in response to changes made to ISAs in the 2014 Budget

This PS publishes rule changes that will affect investment firms managing ISAs:

  • requiring all investment firms who hold any money within stocks and shares ISAs to hold these sums as client money
  • allowing investment firms that manage cash ISAs to opt into the CASS regime and elect to hold money in cash ISAs as client money

PS14/10: Client money held in Individual Savings Accounts

Who does this policy statement affect?

This PS should be read by:

  • ISA managers who manage either stocks and shares ISAs or cash ISAs and hold, or wish to hold, those monies as client money
  • deposit takers of money held within ISAs managed by investment firms

What are the next steps?

Changes to the ISA Regulations come into force on 1 July 2014.

Want to find out more?

 

 

 

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