RegTech: Client assets and safeguarding

Our client assets and safeguarding professionals regularly help firms manage compliance with CASS and safeguarding regulations. We provide support including comprehensive health checks, developing risk and control frameworks, and ensuring effective oversight.

The FCA’s 'Dear CEO' letter shows CASS compliance remains high on the regulator’s list. The letter re-iterates that whatever the impact of Covid-19, investment firms must “maintain adequate arrangements” to look after client assets.

And when it comes to safeguarding customers’ funds, the FCA’s new guidance for electronic money and payment institutions shows it expects more, and seems to be looking to the CASS regulations for inspiration.

Whether you fall under the CASS regime or the safeguarding guidance, it’s the responsibility of senior management to have robust systems and controls in place to look after your clients’ money.

Regulatory healthcheck

We can assess the adequacy of your controls, either by carrying out a high-level review of your safeguarding or client asset arrangements or a full bottom-up review of processes. This can lead to proportionate and effective recommendations for improvements to your processes.

Risk and control frameworks

Our team create risk and control frameworks that provides a functional tool to feed into your compliance oversight arrangements. Create and track actions through to completion by assigning tasks to risk, control and process owners.

Governance and oversight

Assess whether your governance and oversight is adequate, including review of management information, breach escalation, committee terms of reference and the responsibilities of senior management.

To find out more about our work in this space, and what we’re doing in RegTech space, please get in touch.