We may need to hold your money on account during the course of arranging and administering your insurance. This will be treated as Client Money in accordance with the FCA Client Money rules.
- All Client Money is deposited with HSBC Bank plc.
We will advise you if it becomes necessary to hold Client Money in another UK approved bank.
Client Money is protected in a Statutory Trust account.
This is completely segregated from our own money and there are strict regulatory controls we observe to maintain solvency of the Statutory Trust account. Importantly, Client Money is ring-fenced in the Statutory Trust account so that it will be returned to clients in the event of the insolvency of NTEGRITY and cannot be used to reimburse other creditors.
Under FCA rules, money held in the Statutory Trust account from one client cannot be used for payment of premiums or claims for another client.
We are not entitled to use Client Money to take payment of fees or brokerage before we receive the relevant premium payment from a client.
SEGREGATION OF DESIGNATED INVESTMENTS
As we will pay Client Money into a Statutory Trust bank account, we will not invest Client Money in separate designated investments as permitted under FCA rules. (Separate designated investments as permitted by the FCA include life policies, shares, debentures, government and public securities, warrants, units, stakeholder pension schemes, options, futures, rolling spot forex contracts, contracts for differences, spread bets and rights to interests in investments in long term care insurance contracts).