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On 16 January, Bovill hosted one of their regular CASS roundtables. The discussion was lively and informative as usual and covered a wide range of topics, including:
- How best to issue lien notifications
- Issuing client statements and what to do if the client asks that you stop sending them
- The client oversight role and whether it can be held by someone who also has other responsibilities
- Firm’s audit experiences in the last quarter
- Risk and control frameworks/rule mapping
- Logging breaches – what to log and how much information to include
- Firm’s recent experiences of regulator activity
- Specific questions on CMAR completion and firm’s approach to dealing with unclaimed client money
- How best to balance the outsourcing of CASS processes and the required oversight of them
- How best to get the required client agreement when using the delivery versus payment exemption
- CASS staff recruitment challenges.
The meeting closed with a reminder to firms that Bovill will be hosting a CASS Audits – Lessons learnt and hotspots briefing on 28 February 2018.
To talk to us in further detail about any of the topics discussed above, please get in contact with our managing consultant Nicola Green below.
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Heading up our client assets compliance offering, Nicky has been instrumental in working on CASS S166 skilled person work, health checks and assurance projects. She has helped companies new to the CASS world build the control processes they need to ensure compliance and has also helped firms to improve their controls as part of remediation projects.
