UK Finalizes Post-Lehman, MF Global Client Asset Rule Fixes

Law360, New York (June 10, 2014, 7:22 PM EDT) -- The U.K. Financial Conduct Authority on Tuesday said it has finalized changes to rules on handling client money and assets, in light of problems that arose after the collapse of Lehman Brothers International Europe and other firms.

In a 410-page policy statement, the regulator outlined its responses to a consultation paper it issued last year seeking input on how to protect client accounts in the event of bankruptcy and hasten the distribution of customer assets that get tied up in the process.

“The protection of client...
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