The CASS Sourcebook is part of the FCA Handbook and applies to all firms who hold or control client money and safe custody assets (client assets). The guidance, rules and requirements set out in CASS have been created to ensure that adequate protections and controls are in place to safeguard client assets should a firm fail or exit the market.

CASS Policy TemplateClient Assets is an area of high importance to the FCA. The regulator has made significant changes to this area since taking over the role from the FSA. The importance of Client Assets is mae clear by one of the FCA’s defining Principles for firms: –

Principle 10 Clients’ Assets – “A firm must arrange adequate protection for clients’ assets when it is responsible for them”.

Firms who are required to be authorised by the FCA must go through the FCA authorisation application process. This involves ensuring that a detailed and structured compliance program is in place containing all the mandatory FCA policies and procedures. One of the most useful documents when going through the FCA authorisation process are the FCA’s […]