The dreaded FCA s116 skilled person review: What it is & how to avoid one
Posted: 19/06/2024 | Read time: 4 minutes In this blog, our Product Manager & CASS expert Murray Campbell explains how the FCA monitors CASS compliance – and what happens when firms get it wrong. CASS compliance continues to be crucial for regulated firms. The FCA relies heavily on firms adhering to the rules…
AutoRek for CASS 7: Data validation and external client money reconciliation (ECMR)
CASS 7.15.22 R requires firms to perform an external client money reconciliation (ECMR) at least monthly. But, in line with FCA expectations, firms should perform one each business day. This can cause many operational challenges, especially if you’re still relying on spreadsheets. You could experience: Lack of control and auditability Limited ability to scale as…
AutoRek for CASS 7 internal client money reconciliations (ICMR)
CASS 7 requires in-scope firms to perform a daily ICMR as per CASS 7.15.12(R). FCA rules describe two standard methods for the ICMR: the individual client balance method and the net negative add-back method. This short document provides an overview of our automated solution for the individual client balance method. Get your copy to learn…
The top priorities & challenges of UK asset managers in 2024
Posted: 26/01/2024 | Read time: 5 minutes From the launch of Consumer Duty to the FCA’s review of the asset management regime, there were many developments UK asset management firms had to grapple with in 2023. This year, T+1 will go live in the US, with similar developments expected to follow in the UK…
T+1: The Imperative of Trade Capture for Global Asset Managers
Posted: 15/12/2023 | Read time: 3 minutes With the move to T+1 for U.S securities under six months away, institutional asset managers should be dotting the I’s and crossing the T’s on their operational preparations. As these final stage checks take place, the significance of accurate and timely trade capture cannot be overstated, particularly…
Interest rates, CASS and Consumer Duty: A summary of the FCA’s recent Dear CEO letter
Posted: 13/12/2023 | Read time: 3 minutes In this blog, our Product Manager and CASS expert Murray Campbell breaks down the FCA’s latest Dear CEO letter on handling interest. He explains why the FCA is taking action and sets out the steps firms need to take to meet the requirements. The FCA has…
A guide to FCA CASS 7 rules: Requirements, challenges & best practices
CASS audits have changed in recent years. They now take a more proactive, control-based approach after the FRC revised its Assurance Standard. This means you must clearly understand applicable CASS rules and have demonstrable controls in place to comply. Taking action following control failures and identifying breaches is also crucial to improving your control framework.…
Navigating operational efficiency: A deep dive into automation | AssetTV Interview with Jack Niven and Murray Campbell
In this episode of Asset TV, our Global Head of Investment Management & Capital Markets Sales, Jack Niven, and Product Manager, Murray Campbell, discuss how automation can change the game for financial services organisations. Watch the show to find out: The challenges faced by asset managers – from complex reconciliations to regulatory compliance What you…
How T+1 settlement will impact 4 key operational processes
Posted: 24/11/2023 | Read time: 6 minutes In our T+1 settlement blog series so far, we’ve outlined the main T+1 settlement changes in the UK and US, and have explained their impact on FX challenges and data. In our fourth blog, AutoRek Product Manager Murray Campbell sets out how a reduced settlement window will…
T+1: How a reduced settlement window will impact data
Posted: 02/10/2023 | Read time: 4 minutes In the third issue of our blog series on T+1 settlement, AutoRek Product Manager Murray Campbell discusses some of the key impacts a reduced settlement window will have on data. From May next year, the settlement cycle for US security trades will shorten from T+2 to T+1…