Client Assets and Money (CASS)

FourthLine has been providing regulatory compliance services for over 11 years, specifically Client Asset compliance for small, medium and large firms across Asset Management, Wealth, Banking, Insurance and Investment Platforms.

We offer a full suite of solutions for your CASS requirements. These tailored approaches allow our clients to identify CASS vulnerabilities, design and embed mitigating actions, build organisational capability and maintain CASS knowledge & awareness throughout their firms.

CASS Compliance | Background

Following the Lehman Brothers collapse in 2008, compliance with CASS (Client Assets Sourcebook) has been front and centre of the regulatory landscape.

At its core, CASS is about protecting clients. Its primary rule is that firms must keep client money separate from the firm’s money in segregated client money bank accounts and register the customers’ assets accordingly, ensuring that clients’ money and custody assets are protected should the firm become insolvent.

After over a decade, CASS still presents a huge challenge for firms, evident through continued CASS rule breaches, adverse audits, enforcement and resulting fines.

The CASS landscape changed significantly under PS14/9 and more recently the new focus on CASS audit firms under the FRC Assurance Standard. We have also seen other regulatory changes like MiFID II and the Senior Managers Regime and geopolitical change such as Brexit add to the complexity and cost of CASS compliance.

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CASS Training

More about our CASS services

OUR CAPABILITIES

For our clients, it is essential that an effective CASS governance and oversight model is embedded across the firm, starting from the top, coupled with a strong CASS framework containing robust policy, procedures and risk matrices mapped to applicable CASS rules.

Our Client Asset Advisory and Consulting capabilities include:

CASS OPERATIONS

- - - Reconciliation
    - CMAR
    - Management Information (MI)
    - Record keeping
    - Technology and automation
    - Client terms and arrangements

CASS COMPLIANCE

- - - Frameworks
    - Systems & Controls
    - Policies and procedures
    - Monitoring
    - Resolution Pack
    - Breach identification/Management

CASS TRAINING & AWARENESS

- - - Annual CASS assurance
    - Board Level oversight
    - Regulatory change awareness
    - Practitioner refresher

CASS HEALTHCHECKS

- - - High level or granular reviews
    - Special breach advice
    - Resolution pack testing
    - Audit

CASS AUDIT

- - - Annual CASS assurance
    - Board Level oversight
    - Regulatory change awareness
    - Practitioner refresher

GOVERNANCE & OVERSIGHT

- - - Discharge of duties - SMCR
    - Monitoring
    - Escalation
    - Third-party oversight
    - Third-party migration and change
    - Management Information (MI)

CASS TECHNOLOGY & TESTING

Operational integration
Automation
CASS IT systems and controls testing
Report and management information generation
System migration risk
Accessibility, traceability & retrievability
Record keeping and data repositories

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We have successfully worked with FourthLine a number of times this year, and have been impressed not only by the quality of the candidates, but also how well briefed they are.

Head of Operations, Asset Management Firm

When we engage with a specialist consultancy like FourthLine... they take the time to understand what we do and what we are looking for.

CEO, Lending Standards Board

FourthLine have the personal touch and a greater understanding of the sector, the needs, the people, which means they can compete with the big recruiters.

Head of Compliance (Client)

FourthLine took the time to understand what I wanted and approached the company I was eventually placed with speculatively which is what candidates are looking for

Compliance Consultant, (Candidate)

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If you’d like to find out more about our courses or discuss the ways in which FourthLine can help your business,
fill in the form below and one of our team will be in touch as soon as possible.

Alternatively, give us a call on 0203 800 1099

Get in touch

Kieran Maplesden
Managing Director

020 3800 1099
kieran.maplesden@thefourthline.co.uk

Gareth Foulkes
Senior Managing Consultant

0203 800 1548
gareth.foulkes@thefourthline.co.uk

Daniel Waltham
Director | Talent Services

020 3800 1558
daniel.waltham@thefourthline.co.uk

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Client Assets and Money (CASS)

CASS Compliance | Background

Discuss your requirements

CASS Training

More about our CASS services

OUR CAPABILITIES

Our Client Asset Advisory and Consulting capabilities include:

CASS TECHNOLOGY & TESTING

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