CASS 7: Best Practice

In recent years, CASS Audits have shifted towards a more control-based approach from substantive, sample testing methods. This is particularly true when an FCA regulated firm holds money on behalf of clients and must therefore comply with the client money rules in chapter 7 of the FCA handbook.

Due to the manual nature of many reconciliations, firms often do not have the time or resource to investigate the root cause of reoccurring breaks. Furthermore, as a business grows, legacy issues are carried forward and eventually form part of a BAU process within regulatory reconciliations

What do the results of our reconciliations tell us?

Our whitepaper illustrates how AutoRek is designed to deliver an automated client money reconciliation environment, fully compliant with all CASS 7 regulations.

In addition to our standard features and benefits, AutoRek delivers:

  • Single platform for client money and custody assets
  • Automatic matching on external reconciliations governed by match rules
  • Efficient electronic sign off and record retention
  • Life cycle of client money is fully auditable and traceable
  • Adaptable to meet new regulatory requirements or legal entity restructuring
  • Centralised repository for the CASS RP

To find out more and to download your complimentary copy of this paper please complete the short form below.

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