Compound Growth can assist firms of all sizes to ensure they have the necessary procedures in place to remain compliant with the regulator’s rules pertaining to client money and client assets as set out in the CASS Sourcebook.
In particular we can support your firm in establishing suitable accounting systems as well as developing client money policies in line with industry best practice and the FCA’s guidance.
Overview of the implementation timeline for the new Client Money and Client Assets rules.
1st June 2015
Firms will need to ensure they fully comply with all of the new rules set out in Appendix 1 to the FCA Policy Statement 14/9.
1st December 2014
Certain rules came into force relating to the provision of information to or relating to the agreements and documenting of these with any new counterparty with whom firms deposit or otherwise place custody assets or client money.
1st July 2014
Certain rules and guidance came into effect providing clarifications to existing requirements, introducing optional arrangements with which firms may choose to comply and limiting the placement of client money in new unbreakable term deposits.