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CASS 5 - Client Money - Insurance Distribution Activity

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.
  • 25 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
  • Insurance Compliance Library

Learning objectives

  • 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)

    What can you expect your employees to learn?

Introduction

What is Client Money: Insurance Distribution Activity?

Principle 10: Clients' Assets

  • Consumer, customer or client?
  • Risk transfer arrangements
  • You decide: Who carries the risk?
  • 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
  • You decide: Reporting

Summary

Affirmation

Assessment

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Your questions, answered

Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarationssurveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

  • You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
  • For major legislative changes, we:
    • Will send you email alerts to ensure you are notified
    • Offer you a free trial of newly created or updated content
    • Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance

Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features

Supported file types and details

File Exchange

File types: PDF, Excel spreadsheets, Word documents, SCORM and xAPI files, and compressed zip files. Max file size: Default is 1GB, can be increased to a max of 2GB

SCORM files

Versions: SCORM 1.2, SCORM 1.2 for Moodle, SCORM 2004 2nd, 3rd and 4th Edition. Max file size: 1024MB

xAPI file

Max file size: 2GB

Videos

File types: MP4 or MOV. Videos must be optimised, with a max file size of 100MB. If the file is bigger, our Design Team can help

Images

File types: jpg, png and gif. The file size should ideally be 100KB, but it can be up to 250KB

CPD evidence

File types: Word, PDF, Excel and CSV. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Policy documents

PDF or Word File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Offline activities evidence

File types: PDF, DOC, DOCX, XLS, XLSX, CSV, PNG, GIF, JPEG, JPG, PPTX and MSG. File size: the limit should be whatever the portal config option is set to. Servers are set to max 2GB

Client logo files

File types provided by client: EPS, PDF, AI and SVG

Registers

PDF, DOC, DOCX, XLS, XLSX, CSV, PPT, PPTX, POT, PPA, PPS, JPG, JPEG, PJEPG, PNG, BMP, GIF, MP4, MOV, WMV, CPTX, CP, TXT, ZIP and MSG files

Declarations

JPG, JPEG, PNG, GIF, XLS and XLSX files