CASS 5: Insurance Distribution Activity Training Course

CASS rules apply to money belonging to all clients. Clients are classified as retail, commercial, professional and any other eligible counterparty.

Our CASS 5: Client Money - Insurance Distribution Activity course provides an overview of CASS 5 which are the client money rules that apply to insurance distribution.

About this Course

Available as part of our FCA & Insurance Course Library.

Learning Objectives

This course will prepare your employees to:

Understand the client money rules as they apply to insurance intermediaries
Highlight the importance of protecting client money
Identify the types of client money calculation
Demonstrate good governance
Report regulated activities to the Financial Conduct Authority (FCA)

Course Outline

Introduction

Principle 10

- Consumer, customer or client?
- You decide: Who carries the risk?
- Risk transfer arrangements
- Mixing money
- You decide: Client money

Segregation

- When multiple firms are involved
- Statutory or non-statutory trust
- Setting up a non-statutory trust account
- Setting up client accounts
- Client bank accounts
- What if it gets complicated?
- Commissions and fees
- Keeping records
- You decide: A matter of days

Client money calculation

- Calculations and reconciliations
- Carrying out the calculation
- Notifying the FCA
- You decide: Types of client money calculation

Crossing the line

- Examples of common CASS errors
- Reporting to the FCA
- Key performance indicators
- Discrepancies
- Diversification
- Pooling
- Good business practice
- You decide: Depositing client money

Summary

Affirmation

Assessment

Course Specifications

Structure

Approximately 25-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.