• Course
    Validating Your CASS Arrangements (1911CASS)
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  • CPD Credits

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Or call 0203 178 4230
or email info@fstp.co.uk today.

Course Overview

Are your senior managers, CASS oversight team and board members aware of the impact the CASS rulebook could have on your business?
The Financial Conduct Authority (FCA) has made the protection of Client Money and Assets (CASS) a priority. Intensive regulation allows the regulator to enforce hefty fines on the industry for the lack of appropriate management and oversight. The Client Money and Assets Return report (CMAR) gives the FCA the ability to monitor firms remotely. The CASS Resolution Pack provides a simple way for the FCA to check compliance and brings an added impetus to the regulator's spot checks; firms can be visited with minimal notice.

Firms' ongoing review and maintenance of their CASS arrangements are fundamental to conserving integrity, protecting consumers and ensuring that reputational risk of a lack of management oversight is mitigated.

Regulators expect Boards and Senior Managers to implement strategies within their firms that reflect appropriate and effective policies, procedures and processes.

This three hour briefing is for oversight staff and senior management to explore lessons learnt from industry best practice, recent enforcement action and the risks that they are expected to address by the regulators. This session will enable you to;
  • Summarise the regulatory concerns in relation to Client money and Assets (Client Assets)
  • Describe key regulatory FCA principles and Client Assets specific risks
  • Explain the practical implications of your firm’s Client Assets responsibilities
  • Challenge your current governance and operational oversight framework effectively.
CASS Systems and Controls

Continual review of your firm’s structure and processes to minimise the risk of non-compliance. Our expert and practical advice will help you to ensure that you implement the necessary systems and controls.

Keep pace with a moving target

Changes in the global regulatory environment maintain pressure on firms to review and update their CASS arrangements. In order to keep up with regulation and anticipate future changes, it’s essential to seek expert advice on the regulator’s position as soon as it emerges.

Internal Oversight of CASS

Under the Senior Managers and Certification Regime (SMCR), responsibility for a firm's compliance with CASS is a 'Prescribed Responsibility' and the CASS Operational Oversight Function (formerly CF10a) is a Certification Function, covering oversight of the operational effectiveness of a firm's systems and controls for client money and assets.

The CASS Sourcebook an untold story 
The CASS Sourcebook is divided into two policies. Policies that firm’s must pursue daily and policies that stay dormant till a firm enters insolvency. Knowing the structure of the Sourcebook, and the other parts of the regulatory handbook are crucial.

The Course Agenda

The fundamentals of CASS
  • Understanding the background and drivers of new requirements
  • State the FCA Principles and Objectives for CASS protection
  • Provide examples of FCA CASS enforcement
  • Explain the scope of rules and guidance including cross-jurisdictional impacts
High-level requirements
  • State the high level requirements for the protection of Client Money and Assets including:
    • Contractual and Acknowledgements letters
    • Identification
    • Segregation
    • Importance of policies and procedures
    • Records, Accounts and Reconciliations
    • Understanding the funding and necessary review process
    • Reporting responsibilities to the clients, the regulator and the auditing reporting requirements
    • FRC requirements and update
    • Client Money and Asset Return
    • CASS Resolution Pack
  • Examine regulatory changes including MiFID II, SMCR, impact of Brexit and political uncertainty in the global market.
Operational and Regulatory Oversight
  • Examine risks associated with third party agreements; service level agreements and management information, including those intra-group
  • Explore what meaningful management information and oversight is required for board assurance
  • Discuss the role of the regulator and the FCA’s approach to the protection of Client Assets

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Get this course in-house

Or call 0203 178 4230 or email info@fstp.co.uk today.

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Meet The Tutor

Mark Lester
Mark Lester
[Read about...]

Who is this course for?

Delivered by experts, this update is written for:

  • Staff involved with client money and assets, including board members and senior managers, particulalry those who hold the Prescribed Responsibiity for CASS
  • Individuals performing the CASS Operational Oversight Certification Function (formerly CF10a)
  • Compliance teams
  • Custodians


'This training helped me understand better how to approach vulnerability and will be useful to design training courses internally.'

Head of Personal Loans
Finance and Leasing Firm

'This was an extremely engaging session, conducted by a very knowledgeable individual who made adequate time for questions.'

Compliance Manager

Private Client Investment Firm


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