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Here to help with Regulation and Compliance
Client Money & Client Assets
In recent years, the FCA has firmly placed the protection of client assets at the top of its regulatory framework, involving extensive changes, as well as substantial revisions to the custody rules in the Client Assets Sourcebook (CASS), including a rewrite of the client money rules for investment firms.
These changes are aimed at:
- improving a firm’s systems & controls around segregation
- record keeping
- reconciliations
- how client asset risks must be addressed by investment firms
Client Money Support & Compliance Assistance
Compound Growth can assist firms of all sizes to ensure they have the necessary procedures in place to remain compliant with the regulator’s rules pertaining to client money and client assets as set out in the CASS Sourcebook.
In particular we can support your firm in establishing suitable accounting systems as well as, compiling your Client Money and Client Assets Resolution Packs (CASS RPs) and developing client money policies in line with industry best practice and the FCA’s guidance. We can also help to prepare for a Client Money Audit or in undertaking a Client Money Health Check to ensure your existing processes are sufficient and compliant.
If you would like to discuss client money or client assets further, please feel free to contact us or email enquiries@compoundgrowth.co.uk.
Client Money & Client Assets
Compliance Support
Comment from the FCA:
David Lawton, Director of Markets at the FCA recently informed:
The protection of client assets is central to confidence in the UK markets and fundamental to consumers’ rights and the trust they place with firms. These changes will improve the protection offered to client assets and should speed up the recovery of client assets on a failure of a firm. Coupled with the increased focus the FCA has had on client assets, they will go a long way to ensure that confidence in UK markets is maintained and consumers are protected
June 2014
