Virtual CASS Class: Managing Client Money and Assets, June 28th, 2021 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “CASS – Managing Client Money and Assets” training has been added to ResearchAndMarkets.com’s offering.
This is a unique opportunity to complete this programme remotely via a virtual online class which organised on 28th June, from 9 a.m until 4.30 p.m. UK time.
The course is conducted by an expert with over 20 years of practical experience. The sessions are very practical and interactive, and will include discussions, Q&As and exercises. You will receive a set of course materials and certificate on completion.
The collapse of Lehman Brothers exposed a multi-billion shortfall in segregated client accounts, forcing much stricter rules on how a firm should separate client money from its own cash.
In 2014 the FCA reviewed the client assets regime and made material changes to the rules. The aim was and is to continue to offer better protection and speed up the recovery of client assets if the business collapses.
The subject of Client money and Client assets remains high on the FCA’s agenda, actions against firms continue to be taken by the FCA. Most notably the £126 million fine of a US banks London branch for failure to segregate client and company cash. Fines and their reputational damage aside, the new rules post significant commercial and operational challenges.
This very practical 1-day course conducted by an expert with over 20 years of experience within the sector will provide a thorough overview of the CASS regulation, its scope and requirements and prepare participants to effectively comply with it.
You will learn about the principles of clients’ money and asset protection, how to segregate and hold funds and keep records. You will also learn about the reporting requirements and how to set up all the processes and operations in order to stay compliant.
What will you learn
- Recognise the FCA’s concerns regarding Client Assets
- Understand your firm’s responsibilities when handling Client Money
- Assess the practical implications of your firm’s Client Asset responsibilities
- Consider the effectiveness of your current processes in the light of the enhanced regulation
- Identify the work required to comply with the regulation
- Investigate the application of the rules, drawing on lessons learned and good industry practice
Main topics covered during this training
- The background to client asset protection
- CASS rules, scope and significance
- Defining client money and assets
- Defining CASS firm
- CASS Resolution Pack
- Common issues with managing clients money and assets
- Record keeping and reporting requirements
- Reconciliation requirements
- Governance process
Key Topics Covered:
CASS fundamentals
- Understanding the background and drivers to CASS?
- An insight into FCA principles and objectives
- FCA enforcement
- CASS rule and Guidance
High-level requirements
- Protection of clients’ needs
- Identification of money and assets
- Segregation of accounts and required documentation
- Acknowledgment of trust letters
- Reconciliation arrangements
- Reporting requirements and responsibilities
FCA requirements
- Practical application of the rules
- Client money distribution
- Client assets and custody reconciliation
- Mandates (written and non-written)
The importance of oversight and reporting
- The FCA CASS unit
- Allocating CASS operational oversight functions – CF10a
- Client money and Asset return (MAR)
- CASS resolution pack
Introducing systems and controls
- Implementing policies and procedures
- Third-party agreements: service level agreements and KPIs
- Management information
- The governance role
Action planning
Consider how your firm’s policies, processes and procedures can be enhanced to ensure they continue to support an effective and compliant CASS regime
Summary and course close
For more information about this training visit https://www.researchandmarkets.com/r/5gupo2
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
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