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.

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CASS - Client Money & Client Assets

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

FCA Course Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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Course Specifications

 

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Structure

Approximately 35 minutes followed by a 10-question assessment.

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Audience

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

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Design

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

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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 

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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.

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Tailoring

Fully customisable on Skillcast Portal CMS.

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Translation

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

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Localisation

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