Tag: CASS Rules
FCA Continues the Focus on Client Assets
The Financial Conduct Authority has levied its first penalty under the new penalty regime for inadequate compliance with the Client Money rules. On 11 June 2013, the FCA published details of the £120,900 fine (including a 20% discount for early settlement) levied on Xcap Securities (a retail stockbroking and asset management firm) for failure to […]
Update on Client Money
On 25 January 2013, the FSA published Policy Development Update Number 155 detailing forthcoming publications from the FSA on a wide range of issues. Among the client money related updates to be expected during the course of 2013 are: Policy Statement relating to Part 2 of CP12/22, introducing the concept of multiple client money pools within the CASS […]