CASS mandates that firms must put systems and controls in place to meet obligations and maintain their records and accounts in a way that ensures accuracy. This becomes particularly relevant in relation to safe custody assets held for clients.
The FCA expects better record-keeping and record retention to prove controls are in place, operating effectively and that clients are indeed protected.
This paper focuses on how CASS 6 regulations for custody assets can be met by automating your manual reconciliations and reporting processes. This not only helps firms ensure ongoing compliance, but saves both time and resource. It instantly frees up capacity for teams to focus on root cause analysis and resolution of breaks, rather than spend time performing reconciliations.
Comply with CASS 6 Custody Rules
The approach adopted by AutoRek for custody asset reconciliations and reporting assumes the following process:
- Constant Activity
- Formal Preparation
- Sign Off
- Enterprise Level Review
To access this resource and find out more information please complete the short form below.