Course description
Overview
How client money and assets are handled by FCA-regulated firms is a core focus for the Financial Conduct Authority, and the consequences of failure are severe (both in terms of FCA penalties and reputation). The FCA continues to review and update its requirements, so firms need to keep pace with a moving target. This course focuses on providing knowledge, understanding and insight in relation to the Client Money and Asset Sourcebook (CASS) as a document and as a body of regulation applicable to thousands of firms. This course focuses specifically on the Client Money rules (CASS 7), and the Client Assets rules (CASS 6), looking closely at the requirements and the procedures that firms need to have in place to ensure compliance.
This detailed introductory course seeks to provide a grounding in key CASS concepts, risks and regulatory requirements. It covers the following topics:
- Introduction to the CASS Regime
- Client Money Requirements (CASS 7)
- A Firm’s Responsibilities
- Client Asset Requirements (CASS 6)
- CASS Regulatory Reporting
- The Regulatory Landscape
Who is this for?
Management, compliance and administration professionals whose companies are regulated by FCA and hold or control client money and/or custody assets, particularly:
What will you learn?
By the end of this workshop you should be able to:
- Summarise the regulatory concerns in relation to Client Money and Assets
- Explain CASS risks and key FCA regulatory principles
- Clarify the regulatory requirements and how to practically apply them
- Explain the importance of getting reconciliations right
- Explain record keeping obligations and their significance
- Effectively assess your firm’s CASS oversight framework
Other related courses
AIM Rules - Introduction
Financial Services Regulation - Introduction
Key Aspects of the Money Laundering Regulation
Stock Markets & Flotations - Introduction
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Upcoming start dates
Suitability - Who should attend?
Management, compliance and administration professionals whose companies are regulated by FCA and hold or control client money and/or custody assets, particularly
- holders of the CASS operational oversight (CF10a) function
- directors and senior management with client money responsibilities
- staff or market participants with day-to-day responsibilities for the protection of client money and assets.
Training Course Content
Learning outcomes – the course will:
- Explain why CASS implementation is relevant to the integrity of European financial markets
- Clarify the regulatory risks and the expectations on firms to resolve them
- Discuss related regulatory developments including changes to the accountability regime and the market in financial services directive (MiFID II)
- Give insight into:
- the regulatory concerns in relation to FCA client money and assets
- CASS risks and key regulatory principles
- the practical requirements and how to practically apply
- the importance of getting it right on reconciliations
- record keeping obligations and their significance
- how to challenge effectively your firm’s CASS oversight framework