Bovill & Grath partner to revolutionise health checks for CASS and safeguarding

Bovill & Grath partner to revolutionise health checks for CASS and safeguarding

NEWS RELEASE: Bovill and Grath are pleased to announce a new strategic partnership. This week the two firms launch a joint offering combining expert advice with technology to support firms in meeting the regulatory requirements around the assets they hold on behalf of clients.

The partnership combines Bovill’s 20 years of experience in regulatory advice with the innovative real-time regulatory assurance platform from Grath to deliver a revolutionary hybrid solution for firms subject to client money and assets, payment services and electronic money regulations.

October saw another reminder that compliance with the client assets (CASS) rules remains high on the FCA’s priority list. The regulator’s latest Dear CEO letter re-iterates that whatever the impact of Covid-19, firms must “maintain adequate arrangements” to look after client assets.

The FCA is also expecting more from e-money and payment institutions when it comes to safeguarding customer funds. The regulator has stated its intention to “strengthen firms’ prudential risk management and arrangements for safeguarding customers’ funds in this period of economic stress”. The recently updated guidance means most affected firms will have to take action, and points to a closer alignment with the CASS rules.

Ben Blackett-Ord, CEO of Bovill, commented:

“We are very excited by this new partnership with Grath and the opportunities and potential in terms of regulatory compliance that it brings. The world of financial services has recently had to adapt rapidly to events such as Brexit and Covid-19, and this new offering will give our clients some much needed peace of mind.”

By bringing together Bovill’s expert regulatory consultants with Grath’s intelligent compliance platform, the collaboration provides a full-service offering for assurance, risk and control mapping. With the joint health check, firms can assess the adequacy of their governance, risk and control framework. Clients will receive recommendations for improvements to their processes, with the ability to track remedial actions through to completion by assigning tasks to risk, control and process owners.

Matt Povey, CEO of  Grath, commented:

We are really looking forward to working with Bovill in this new endeavour. As the regulatory landscape becomes more complex, it is becoming ever more crucial to maximise the use of technology to help with regulatory challenges. We are confident that the partnership will save clients time and grant welcome assurance of compliance, particularly in terms of CASS and safeguarding.”

You can find further details on how Bovill’s RegTech partnership with Grath helps firms manage compliance with CASS and safeguarding regulations here.



For further information, please contact:

Polly Barton – Bovill

+44 (0)20 7620 8440


Tabitha Adams – Luther Pendragon

+44 (0)7500 013062


Zac Radbone – Grath

+44 (0)203 951 7808

About Bovill

Bovill is a specialist financial services regulatory consultancy, established in 1999 and headquartered in the UK with offices in London, Chicago, Singapore and Hong Kong. Our sole activity is the provision of high-quality, technically-focused advice and consultancy services on all aspects of financial services regulation. We aim to develop effective solutions to the complex problems of our clients, and do not offer commoditised advice or services. Bovill has experts spanning all aspects of financial regulation in the UK, EU, Asia and the Americas.

About Grath

Grath is the smartest way to manage regulatory compliance, established in 2019 and headquartered in the UK with offices in London, Menlo Park and Sydney. Grath enables financial services firms to effortlessly scale their oversight capabilities, determine where regulatory risk exists and prevent breaches before they happen. Bye bye spreadsheets, get real-time regulatory assurance with Grath.

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