CASS Client Money and Assets

Outline & Objectives

Failure to comply correctly with client money requirements remains one of the major causes of firms falling foul of the regulators . . . and one of the most costly. Following the collapse of Lehmans, the FSA increased its focus and resources in this area and its successor regulator, the FCA, has continued this emphasis and increased its resources in this regard: strengthened its requirements on operational controls, introduced a new CASS oversight function, established a dedicated reporting framework and new notification requirements and incorporated CASS considerations into Recovery and Resolution plans. 

The FCA's new rules on the protection of client assets and money for investment firms (PS14/9) came fuly into force on 1st June 2015. The new rules are a significant change to the previous regime and include a complete re-write of the client money rules in CASS 7 and major changes to the custody rules in CASS 6. This practical half day seminar will: 

• Review the key CASS requirements and how to comply 
• Examine the FCA's changes to the CASS regime and the practical implications for CASS compliance and controls 
• Consider the regulator's approach to CASS supervision, including themed visits, and recent regulatory initiatives and actions

Who will benefit

This event will be of value to all those responsible for senior management oversight or the day to day operational processes involved with client money and assets. It will also benefit anyone in compliance or legal functions in the business. This will include: 

• People holding the Client Money Oversight function, CF10a
• Board members and Senior Management
• Compliance, Legal and Risk Officers
• Operations personnel
• Custodians

Course Agenda

Topics covered may include but are not limited to:

• CASS Rules
• PS14/9: what has changed?
• Senior management and the CF10a role
• CASS reporting
• The FCA's approach to supervision and CASS visits