CF10a & CASS

In the years following the banking crisis, the industry has seen a flood of FCA CASS (Client Asset Sourcebook) regulation, leading to widespread reviews of in-house client money systems and controls.  Despite the work carried out within the industry to keep up with changing regulations, there have been continued fines against firms that have failed to adhere to the CASS rules and CASS therefore remains a hot industry topic.

A new FCA Policy Statement was published in June this year, finalising the proposed changes to CASS.  The changes have a potentially significant impact on operations and the CF10a, the company’s officer responsible for CASS compliance.  The CF10a oversees the operational effectiveness of systems and controls designed to achieve compliance with CASS.  He reports to the Board and submits the firm’s Client Money and Asset Return to the regulator.

CASS has been a new “buzz word” for recruiters to learn over recent years.  At AC Financial Recruitment it is already a familiar concept, having worked in regulated environments subject to Client Money rules.  If you would like to discuss any aspect of CASS or recruitment in the CASS sector, please contact Steve Johnson on 01277 263578.