(1) With respect to collateral margined transactions, an investment firm, in advance of depositing collateral with, or pledging, charging or granting a security arrangement over the collateral to, a relevant party or eligible custodian, shall -
(a) notify the credit institution, relevant party or eligible custodian that the investment firm -
(i) is under an obligation to keep the collateral separate from the investment firm's collateral, and
(ii) that the relevant party or eligible custodian must not claim any lien or right of retention or sale over the collateral except to cover the obligations to the relevant party or eligible custodian which gave rise to that deposit, pledge, charge or security arrangement, or any charges relating to the administration or safekeeping of the collateral,
(b) instruct the relevant party or eligible custodian that -
(i) the value of the collateral passed by the investment firm on behalf of clients must be credited to the investment firm's third par