Compound Growth Ltd 2016 -
The Government’s Regulatory Policy Committee (RPC) have now published their opinion as well as the Equivalent annual net direct cost to business (EANDCB) in relation to changes to Client Money and unbreakable deposits as implemented by the FCA in January 2018.
Last January, the FCA published the Feedback to their Consultation Paper CP17/29 as well as Final Rules on Client Money & Unbreakable Deposits in Policy Statement PS18/2.
The new rules on Client Money & Unbreakable Deposits saw the following changes being implemented in January 2018:
Of course, these regulatory changes would have, and have had, an impact upon businesses. Thus, the Government’s Regulatory Policy Committee (RPC) have now published their opinion, as well as the Equivalent annual net direct cost to business (EANDCB), in relation to these Client Money changes as implemented by the FCA in January 2018.
To read more about the RPC’s findings upon the new Client Money & Unbreakable Deposit Rules, read the report here.
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.
If you would like to discuss client money or client assets further, please feel free to contact us or email firstname.lastname@example.org.