Key Details

Duration: 3 Hours
Available: None Scheduled

Overview

The protection of Client Money is of the utmost importance to the regulator, relating as it does to the statutory objective of consumer protection and Principle for Business 10 - 'A firm must arrange adequate protection for Clients' Assets when it is responsible for them'.The Client Asset Rules, found in...

The protection of Client Money is of the utmost importance to the regulator, relating as it does to the statutory objective of consumer protection and Principle for Business 10 - 'A firm must arrange adequate protection for Clients' Assets when it is responsible for them'.

The Client Asset Rules, found in the CASS chapter of the regulator's handbook, have changed fairly extensively as a result of the implementation of MiFID at the end of 2007. Most notably, professional clients engaged in MiFID business are no longer able to 'opt out' of receiving Client Money protections. It is therefore essential that firms familiarise themselves with the new CASS sourcebook, in which parallel regimes operate for MiFID and non-MiFID business.

Who is this for?

The course is aimed at individuals in all Firms who are involved in, or responsible for, the safe custody of Assets and holding Client Money.

  • Background and purpose of CASS
  • The scope of the Rules and their impact
  • Client types affected
  • Asset reconciliations and calculations
  • The use of Money Market Funds
  • Unregulated custodians

After attending this course, participants will be able to:

  • Describe the regulatory Rules relating to Client Assets
  • Assess the impact of the Client Asset Rules on their firm
  • Benchmark their current policies and procedures against best practice
  • Identify changes that need to be made to their current arrangements to enable them to comply with the obligations under the Client Asset Rules