T+1 settlement: UK’s progress so far
Posted: 18/10/2024 | Read time: 4 minutes This blog will outline UK’s progress to T+1 based on the draft recommendations issued by the Accelerated Settlement Taskforce. The Accelerated Settlement Taskforce (AST) was put in place in 2022 to assess the implications of the UK moving to a T+1 settlement. So, what progress has the…
The impact of T+1: Why UK firms should prepare now for faster settlement times
Posted: 02/10/2024 | Read time: 4 minutes As the North American market undergoes a seismic transformation with the implementation of the T+1 settlement period, the question remains: are UK firms ready? The fundamental overhaul that firms will soon have to undertake will shape the future of market operations and bring globe-spanning implications. In stark…
Investment firms must adapt to today’s data-centric technology or get left behind
Posted: 16/04/2024 | Read time: 4 minutes The investment industry has been operating within the confines of tradition and strict regulations for quite some time. However, continued reliance on outdated legacy software systems can disrupt an organisation’s innovation and growth. Yet, investment companies all over the world keep these systems in place due to…
The importance of effective CASS audits: FCA fines audit firm for report failings
Posted: 16/08/2024 | Read time: 1 minute In a move which highlights the important role played by audit firms, the FCA has fined firm Macintyre Hudson LLP (MHA) for failings in respect of their client asset reports. The final notice published yesterday, highlights issues identified across four separate client asset reports affecting two separate…
AutoRek product guide: CASS 6 solution
The AutoRek CASS 6 solution helps you achieve compliance while minimising operational costs. Used by many of the largest asset management and investment firms in the UK, our CASS platform streamlines the amalgamation and consolidation of data from disparate systems. This allows for transparency, good governance and full auditability to meet regulatory requirements. Download this…
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…