Tag: Client Assets
Zut Alors! CASS RP to go all European?
Introduction The requirement to create and maintain a CASS Resolution Pack (CASS RP), formed a key plank in the FCA’s review of the client assets regime in the UK. It requires each firm which is subject to CASS Chapter 6 (Custody rules) or Chapter 7 (Client money rules) to collate certain information regarding its handling […]
FCA CASS Review Leads to CASS RP Amendments
On 10 June 2014, following its original July 2013 consultation paper[1] the FCA published its long-awaited policy statement and accompanying guidance note detailing changes to the client assets regime in the UK. The policy statement represents a material rewrite of the CASS regime in the UK. The most significant amendments are summarised here. A number […]
FCA Legislation Update
On 26 April 2013, the FCA published its first Policy Development Update (PDU) for April 2013 which details forthcoming FCA publications relating to a number of areas, including RRP, client assets and EMIR, as detailed below. High level standards Initiative Current Expected Publication Date Previous Expected Publication Date Recovery and Resolution Plans: policy statement to CP11/16 […]
FCA Update on RRP and CASS
On 26 April 2013, the FCA published Policy Development Update No 157. This summarises the anticipated publications dates for various pieces of regulatory guidance. Of note are the following: a policy statement (PS12/5) to CP11/16 on recovery and resolution plans, due for publication in Q2 2013; a policy statement to part 2 of CP12/22 on […]