Client money and assets (the CASS Regime) – identify, assess and reduce risks

3 October 2019

Member price: £553 + VAT

Non-member price: £650 + VAT

London, 3 October 2019
London, 7 November 2019
London, 10 December 2019

Email BPP to book

With the Financial Conduct Authority (FCA) ever more pressing on firms over their handling of client money and custody assets, firms have to be fully on top of the obligations applicable to them. As FCA continues to review and update its requirements, firms need to keep pace with the 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 specifically looks at Client Money, CASS 7, and Client Assets, CASS 6.

What you will learn

  • Why CASS implementation is relevant to the integrity of European financial markets
  • The regulatory risks and the expectations on firms to resolve them
  • Related regulatory developments including changes to the accountability regime and the market in financial services directive (MiFID II)
  • 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

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

View full event details


Session I - The road to CASS convergence

  • Background and drivers
  • FCA principles
  • Enforcement actions and learning lessons

Session II - Client money requirements (CASS 7)

  • Holding v controlling: knowing which side you are on
  • Identification, segregation and diversification
  • Records, accounts and reconciliations
  • Policies and procedures

Session III - Client asset requirements (CASS 6)

  • What are they?
  • Registration
  • Record keeping – does it matter?
  • Reconciliation
  • Client assets policy

Session IV - The firm’s responsibilities

  • Assessing CASS risks
  • The role of the CF10a and the introduction of the conduct regime
  • Overseeing outsourcing
  • The client asset resolution pack
  • Client reporting
  • Audit reporting
  • Client money and asset return

Session V - The regulatory landscape

  • Changing regulatory landscape
  • Examination of cultural and conduct oversight
  • Engaging and reporting with irregularities




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