£540

Supporting CASS Assurance Oversight

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£540

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Event description
Increased consumer detriment can arise when authorised firms default or exit the market. This risk is increased during a recession.

About this Event

Course Overview Increased consumer detriment can arise when authorised firms default or exit the market. Poor records and ineffective segregation procedures create a slower, costlier and more uncertain outcome for the customer and associated reputational damage to the Financial Conduct Authority (FCA) and United Kingdom financial markets.

This risk is increased during a recession or uncertain economic climate.

Since 2010 the Financial Conduct Authority (FCA) has made the protection of Client Money and Assets (CASS) a priority. The intensive and intrusive regulation allows the regulator to enforce hefty fines on the industry for the lack of appropriate management and oversight. Explaining Regulatory concerns regarding client money and assets in respect of insolvency and their relevance to European market integrity.

CASS implementation is fundamental to maintaining integrity, protecting consumers and ensuring that reputational risk of a lack of management oversight is mitigated.

This seminar will provide delegates with an overview of the regulatory requirements and assess what these requirements practically mean for firms.

Learning Objectives

This course will cover the following:

  • Explaining Regulatory concerns regarding client money and assets in respect of insolvency and their relevance to European market integrity;
  • Summarise the high-level requirements for Safeguarding of client money (CASS 7) and client assets (CASS 6);
  • Present an assessment of the practical implications of your firm’s CASS Responsibilities including identification, segregation, maintaining records and controls and performing reconciliations;
  • Examine regulatory reporting requirements including due diligence, client money and asset report, CASS audit, the CASS Resolution Pack;
  • Identification of the key challenges of implementation and how to address operational risks arising;
  • Examine risks associated with third party agreements; service level agreements and management information;
  • Demonstrate practical examples from National Competent Authorities (NCAs) enforcement and case studies; and
  • Discuss the role of the regulator and the FCA’s specialist Supervision approach to the protection of CASS.

Who is Vivienne Bannigan

Vivienne is a financial services professional with over 20-year experience in regulatory and operational risk in the United Kingdom, Europe and internationally. Vivienne has held various roles across several organisations including the Financial Conduct Authority (FCA), Royal Bank of Scotland and UK Finance. Vivienne has worked in wholesale policy covering the Market Abuse Regime, Markets in Financial Instruments Directive (I & II), Securities lending, Client Money , Transaction Reporting and mentoring her colleagues along the way. Vivienne designed and implemented training and communications to support programme delivery, including the Markets in Financial Instruments Directive and Client Money and Assets. Vivienne holds various qualifications including an M. Econ. Sc. in European Economics and Public Affairs. Vivienne is an accredited Dispute Resolution Mediator and is completing an MA in Community Psychology at the University of Brighton. Vivienne is passionate about sailing and supporting individuals to achieve their potential while at the same time, creating an environment that is professional, practical and participative.


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