Client Funds Safeguarding Controls
What this control requires
Implement Article 47 safeguarding for all client funds received. Select and document chosen method: (A) segregated accounts at credit institution, (B) insurance/bank guarantee, or (C) combination. Calculate protected amount daily. Reconcile daily. Maintain safeguarding register accessible to liquidator.
Other LOI PI 2018 controls
BEPI-A10-001 - Administrative File Completeness and CurrencyBEPI-A17-001 - Initial Capital Maintenance and MonitoringBEPI-A20-001 - Management Fitness and Propriety ProgrammeBEPI-A21-001 - Sound Governance and Internal Control FrameworkBEPI-A50-001 - Own Funds Adequacy MonitoringBEPI-A53-001 - Risk Management Function ImplementationBEPI-A55-001 - Compliance Function and AML/CFT OversightBEPI-A58-001 - Payment Security Incident Reporting to NBBBEPI-A63-001 - NBB On-Site Inspection ReadinessBEPI-A9-001 - NBB Authorisation — Pre-Application Readiness Assessment