CASS - Client Money & Client Assets Course

The Client Assets Sourcebook (CASS) outlines a firm's duty to separate its assets from a client's and safeguard these assets. CASS rules cover client money and client assets.

Client money and client assets (also known as safe custody assets) are held or received by a firm in connection with its investment business. Client money refers to money for investments, while client assets are non-cash assets.

Our CASS for Client Money and Client Assets Course explains the FCA's rules for administering these client assets with a focus on custody and client money rules.

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare you to:

Explain what client assets are
Understand our obligations when handling client assets and client money
Recognise the importance of segregation and reconciliation of client assets and client money
Report or escalate any known or suspected breach of client money rules
Understand the record-keeping requirements

Course Outline

Welcome

What is CASS?

What are client assets?

Structure of the client asset rules

- Exercise: Structure of the client asset rules

Holding safe custody assets (CASS 6 - Custody Rules)

Depositing assets with third parties

- Exercise

Use of safe custody assets

Records & reconciliations

CASS 7 Client Money Rules

- When money ceases to be client money
- What do you think is client money?
- You make the call: Is this client money?

Client money rules

Client money - physical receipts & allocation

Client money - diversification

Client money - pooling

Client money reconciliation

Key points to note

- Exercise

Client reporting & information

Governance, supervision & oversight

CASS Resolution Pack (RP)

Summary

Affirmation

Assessment

Sample Course Pages

Course Specifications

Structure

Approximately 35 minutes 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 client style sheet.

Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment by simply passing the assessment.

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.

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.