CASSClient 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.

 

FREE pre-recorded webinar: Considerations on Client Assets and COVID-19 

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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 Learning Packages


We have been providing regulatory compliance services for over 11 years, specifically Client Asset Compliance(CASS) for small, medium and large firms across Asset Management, Wealth, Banking, Insurance and Investment Platforms.

After identifying a need for clarity around the ever-changing regulation, as well as access to tools that can support the development of a strong CASS culture in firms, we have developed our first, CASS Firm-Wide Knowledge & Awareness online course.

The creation of this interactive course is an amalgamation of in-depth research and partnership with industry CASS Practitioners to bring you a high-level overview, background to, and key concepts around CASS regulation.

Across four modules, you will be introduced to:
  • The FCA CASS handbook
  • The applicability of CASS rules in real-life scenarios
  • Guidance for creating a strong CASS culture and governance
  • Best practices in maintaining compliance going forward

Click on the link below to find out more about this course or to request a demo.

 

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Access to all our pre-recorded CASS Learning "how-to" and workshop videos

For a one-off fee of £1200 you will get access to the following videos:

2 x In-depth CASS workshops, pre-recorded by Paul McDermott

  • Workshop 1: CASS Third-Party Oversight (3 sessions)
  • Workshop 2: Getting CASS right, leading from the top (2 modules, 7 sessions)

5 x CASS "How to" videos

 Alex Harris covers 5 key areas in these short CASS videos:

  • Best practice for developing & Maintaining a CASS controls monitor
  • Developing a strong CASS Culture
  • How to Demonstrate & Deliver Compliant 3rd Party Due Diligence
  • The Common CASS RP Pitfalls & How to Avoid Them
  • How to Mitigate the CASS Risks Associated with Outsourcing

Click here to find out more about this package or to order

Click here to request more information about this workshop package

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

Find out how we can help you to improve your CASS compliance

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Client Stories

International bank requires broad range of CASS and risk assurance experience

FourthLine were contacted by the Chief Operating Officer and Director of Controls at an ...

Read more >

Interim CASS & Prudential Reporting Analyst swiftly identified

The client was an online trading platform based in London that specialises in retail products ...

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Insights

FCA Coronavirus additional guidance - Free Downloadable Toolkit

Following their first publications of Temporary Guidance for firms between March and ...

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Webinar: Q&A on CASS Matters

Watch a recording of our webinar in which we interviewed leading ...

Read more >

One thing that really stood out was that FourthLine helped me prep for my second interview, where my answers could be stronger and other helpful advice.

Head of Compliance, (Candidate)

Gareth makes sure that he does his homework in advance of any interaction with employers, which makes the whole process more straight forward. I highly recommend him to other candidates!

Head of Operations, Asset Management Firm

We were so impressed with FourthLine that following the full day workshop we attended, we decided to utilise their Talent solutions to support building one of our teams.

Senior CASS Manager, Asset Management firm

The level of interaction on the course I attended was great, enabled by a really strong group and brilliant facilitator.

Head of CASS,

Got a question?

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

Kieran Maplesden
Managing Director


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

gareth-foulkes

Gareth Foulkes
Senior Managing Consultant


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

Daniel_Waltham1

Daniel Waltham
Director | Talent Services


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