Client Money & Assets
Check and Demonstrate Your Firm's Compliance Against Each CASS Requirement:
Application Confirmation: Verify whether CASS 6 or CASS 7 applies to operations, with guidance explaining why accurate scoping ensures proper safeguarding of client assets and aligns with FCA requirements.
Exclusion Review: Confirm client money exclusions under CASS 5 or CASS 13, including rationale on why this prevents unnecessary application of rules and focuses resources on relevant activities.
Historical and Projected Assessment: Document reviews of past and future CASS applicability, with insights highlighting why projections maintain ongoing compliance and prepare for regulatory changes.
Firm Classification Determination: Verify classification as small, medium, or large based on asset holdings, explaining why evaluations using reconciliations and conversions support appropriate oversight levels.
Notification to FCA: Confirm timely notifications of classification details, underscoring why submissions by deadlines like February 15th demonstrate transparency and regulatory adherence.
Responsibility Allocation: Document assignment of CASS oversight to a senior manager, with guidance on why this centralises accountability and integrates with SMCR for effective controls.
Segregation Assurance: Verify segregation of client money under CASS 5.3 and 5.4, highlighting why this protects against firm insolvency and meets professional body rules.
Reconciliation Processes: Confirm regular reconciliations and documentation, with rationale on why accurate records facilitate quick discrepancy resolution and audit preparedness.
Acknowledgement Letters: Verify required letters for client accounts, explaining why these legally confirm segregation and enable prompt FCA notifications if needed.
Sub-Pool Management: Document client consents for sub-pools, with insights on why separate pooling mitigates risks in clearing events and ensures fair distribution.
Achieve up to 40% faster compliance proof, with clear guidance on regulator expectations.