“Delivery v payment exemption” for client money

[ThatEdgyRobin]

Hello

I have inherited investments with Aberdeen. For various reasons I can’t sell just yet and move them into something I fully understand…

But I’ve received a letter asking me to consent to the use of the “delivery versus payment” exemption. I can see that this means that when any funds are bought or sold, the proceeds don’t need to be treated as client money during the transaction process. This makes the process quicker.

Is this normal? Shall I just sign it and agree?

Yes, it's a very normal thing to do (although they have to ask). It makes trading quicker and easier. The vast majority of people will say yes to this request.

Thank you @2026Y - google told me nothing helpful! So it’s not a “we’re going bust so taking every opportunity to improve the books” thing - just a standard regulatory thing?

@ThatEdgyRobin the regulations require them to ask clients if they want to do this. The reason they are asking you now, I assume, is because you have become a client (through inheriting the investments). This might ordinarily be part of the on-boarding process. So all clients would be asked to agree to this, but ordinarily it would be done when you signed up.

They are not asking you now because they are having a crisis, they are asking you now because you are a new client, or because someone has realised that they don't have this authorisation from you.

Thank you - that’s so clear and helpful. Yes, the units have just been put in my name so I’m a new client.

Thanks again.

You're welcome 😊