Supporting CASS Assurance Oversight

London Governance and Compliance Academy

Short course

Online

£ 110 + VAT

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Description

  • Type

    Short course

  • Level

    Intermediate

  • Methodology

    Online

  • Class hours

    2h

  • Duration

    Flexible

Increased consumer detriment can arise when authorised firms default or exit the market. Poor records and ineffective segregation procedures create a slower, costlier and more uncertain outcome for the customer and associated reputational damage to the Financial Conduct Authority (FCA) and United Kingdom financial markets.

This risk is increased during a recession or uncertain economic climate.

Since 2010 the Financial Conduct Authority (FCA) has made the protection of Client Money and Assets (CASS) a priority. The intensive and intrusive regulation allows the regulator to enforce hefty fines on the industry for the lack of appropriate management and oversight. The CASS Resolution Pack implementation brought a new interpretation to FCA spot checks. Firms can have the regulators in their businesses within 48 hours of receiving a call from the FCA informing them of a visit.

This course will provide delegates with an overview of the regulatory requirements; assess what these requirements practically mean for firms; and discuss how firms might prepare themselves for such a visit.

About this course

To shape an understanding of the importance of the CASS Resolution pack to the FCA’s approach to assessing culture and conduct;

To examine the regulatory requirements under CASS 10;

To discuss the complexities in relation to the obligations; and

To identify risks and how firms can provide assurance via their control and assurance framework.

CEOs, CFOs, Compliance Officers of financial services firms

The course is delivered by one of the best subject matter experts in a condensed and highly informative manner

The LGCA Support Team will provide any information and/or guidance necessary

Yes, a more advanced and detailed course can be arranged by LGCA.

The course is largely for financial services professionals, more particularly for those having to handle clients' money.

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Reviews

Subjects

  • Compliance
  • Investment
  • Risk Analysis
  • Risk Assessment
  • Finance Market
  • Financial Risk
  • Financial Services
  • Financial Compliance
  • Investment Funds
  • Asset Management

Teachers and trainers (1)

Vivienne Bannigan

Vivienne Bannigan

Financial Services Professional

Vivienne is a financial services professional with over 20 years’ experience in regulatory and operational risk in the United Kingdom, Europe and internationally. Vivienne has held various roles across several organisations including the Financial Conduct Authority (FCA), Royal Bank of Scotland and UK Finance. Vivienne has worked in wholesale policy covering the Market Abuse Regime, Markets in Financial Instruments Directive (I & II), Securities lending, Client Money , Transaction Reporting and mentoring her colleagues along the way.

Course programme

    • Explaining Regulatory concerns regarding client money and assets in respect of insolvency and their relevance to European market integrity;

    • Summarise the high-level requirements for Safeguarding of client money (CASS 7) and client assets (CASS 6);

    • Present an assessment of the practical implications of your firm’s CASS Responsibilities including identification, segregation, maintaining records and controls and performing reconciliations;

    • Examine regulatory reporting requirements including due diligence, client money and asset report, CASS audit, the CASS Resolution Pack;

    • Identification of the key challenges of implementation and how to address operational risks arising;

    • Examine risks associated with third party agreements; service level agreements and management information;

    • Demonstrate practical examples from National Competent Authorities (NCAs) enforcement and case studies; and

    • Discuss the role of the regulator and the FCA’s specialist Supervision approach to the protection of CASS.

See related categories

Supporting CASS Assurance Oversight

£ 110 + VAT

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