CASS Governance & Treatment of Shortfalls Breakfast Briefing
The fundamental cause of any shortfall can vary considerably, from failed market settlement to internal books and records errors, often making it difficult to immediately identify shortfalls. Many firms have taken the all-inclusive approach to shortfall protection, regardless of the party at fault. From an operational standpoint this approach may reduce the shortfall identification risk, but this puts a substantial drain on the liquidity of a firm’s resources.
CASS Governance & Treatment of Shortfalls
Delegates joined us at our breakfast briefing as we discussed how to overcome the challenges of CASS Governance and in particular, the treatment of stock shortfalls. Kieran Millar, Senior CASS Consultant at AutoRek, outlined the CASS 6.6.54R specific requirements, common industry pitfalls and a short demonstration of a real-world stock shortfall scenario with a firm utilising the Banking Exemption.
Nisha Sanghani, Managing Director at Rosediem Consulting, joined us to discuss the components of decision making, client money impact and how to set yourself up in the right way to get your desired outcome.
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