The FCA's continued focus on the importance of Custody Assets (CASS) demonstrates the need to have robust, automated financial control regimes in place.
CASS mandates that firms must put in place systems and controls that are necessary to meet their obligations to maintain their records and accounts, in a way that ensures their accuracy and in particular their correspondence to safe custody assets and client money held for clients.
The FCA expect better recordkeeping and record retention to prove controls are in place, operating effectively and that clients are indeed protected. Indeed the FCA have actively increased their CASS resolution pack visit, now giving only 48 hours' notice in doing so.
We offer a fully automated end-to-end CASS solution, to help ensure on-going compliance for both client money and client assets. By doing so, we provide our customers with better record keeping and record retention to prove they are in control and truly protecting their clients.
We have written many papers covering the various affected industries in both the UK and Ireland:
Alternatively, arrange a demonstration of our Client Money solution.