(1) In advance of opening a third party client asset account, an investment firm shall -
(a) designate in its own financial records each third party client asset account as a 'client asset account' or use some such other abbreviation in the account name that makes it readily identifiable as an account containing client assets,
(b) ensure that the third party will designate in the financial records of the third party, the name of a third party client asset account held with it in a manner which makes it clear that the client assets are not assets of the investment firm.