Client Assets



Course Outline

Introduction

The course starts with a summary of the regulatory and commercial purpose of the Client Asset rules. The introduction stresses the importance of these rules in the light of both investment firm and bank failures experienced during the financial crisis.

Common Concepts

This section examines concepts that are common to both client money and custody regulations. This includes a discussion of the need for identification, segregation, due diligence of banks and third parties and the requirements for calculations and reconciliations.

CASS Rules

The following sections provide information on the detailed CASS requirements in relation to Client Money (and key exceptions such as Title Transfer); Custody; Collateral; Mandates; the role of the CF10a and CMAR reporting.

Course Test

At the end of the course there is a randomising test comprised of 10 questions with an 80% pass mark.

Further Information

Format

SCORM 1.2 compliant. HTML/CSS/JS.

Implementation

This course runs on any SCORM compliant LMS platform. JavaScript must also be enabled and all pop-up blockers disabled. Requires IE7 or above.

Course Overview

The course provides learners with a summary of the FCA's Client Asset rules.

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Details

Learning outcomes:

By the end of the course the learner will:

  • understand the purpose of the FCA Client Asset rules
  • appreciate the commercial importance of safeguarding client assets
  • know the key provisions of the Client Money rules (CASS 7)
  • know the key provisions of the Custody rules (CASS 6)
  • know the requirements in relation to regulatory reporting on CASS issues

Audience:

The course is designed as a primer on client asset rules for operations, finance and compliance staff. It will also be useful for front office staff that need an awareness of this subject.

Course duration:

Approximately 25 minutes.

Assessment:

The course includes two inline quizzes, plus a randomised test at the course conclusion


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