Client money and asset report

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This report has the following key messages to firms:• Customers must have confidence that their money and assets are safe and will be returned within a reasonable timeframe in the event a firm becomes insolvent. • Customers must have confidence that firms holding their money and assets have strong management oversight and control over their business. • We consider the protection of client money and assets to be a fundamentally important part of regulation and, as a result of the more difficult economic climate and our own findings we are intensifying our supervision in this area. • We have taken steps to rectify procedures at firms that have fallen short of our requirements. Targeted supervision and regulatory intervention will continue throughout 2010.