COBS 14.1.4 Holding or Controlling Client Assets or Relevant Money
Client Assets or Relevant Money are held or controlled by an Authorised Person if they are:
(a) directly held by the Authorised Person;
(b) held in an account in the name of the Authorised Person; or
(c) held by a Person, or in an account in the name of a Person, controlled by the Authorised Person.