COBS 15.4.5

An Authorised Person which intends to use a Client's Safe Custody Investments for its own purpose or that of another Person, must have systems and controls in place to ensure that:

(a) it obtains that Client's prior written permission;
(b) adequate records are maintained to protect Safe Custody Investments which are applied as collateral or used for stock lending activities;
(c) the equivalent assets are returned to the Client Account of the Client; and
(d) the Client is not disadvantaged by the use of his Safe Custody Investments.