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Automated CASS software: Key considerations for growth and development

Posted: 05/12/2022 | Read time: 7 minutes   In this blog, AutoRek’s CASS Consultant Murray Campbell sets out what firms must consider if they want to grow and develop. He explores the growing inseparability of finance, tech and data, the FCA’s drive to becoming more data-led, the main reasons why firms are automating CASS, and…

MiFID II: Why three-way reconciliations are key to avoiding penalties

Posted: 23/08/2022 | Read time: 3 minutes   It’s been three years since the EU launched MiFID II. But many firms still struggle to contend with regulations – and the consequences have been costly. Penalties for non-compliance continue to rise. In 2020, the number of sanctions issued by national competent authorities (NCAs) quadrupled to a…

AutoRek named Best CASS Solution for third consecutive year

Posted: 01/07/2022 | Read time: 1 minute   Leading fintech company, AutoRek, is delighted to have been recognised at the Systems in the City Financial Technology Awards 2022 in both the ‘Best CASS Solution’ and ‘Best Wealth Management Solution’ categories and are excited to have achieved the accolade ‘Best CASS Solution’ for the third consecutive…

CASS 7 breaches: Rising to the challenge

Posted: 16/06/2022 | Read time: 5 minutes What are CASS breaches? CASS breaches occur when a firm’s processes fall short of regulatory requirements laid out by the FCA. While they should be kept to a minimum, CASS breaches are an inevitable consequence of performing investment business. After all, even though firms adopt processes and controls…

CASS governance: Four factors for compliance

Posted: 26/05/2022 | Read time: 4 minutes   Good governance is essential to ensure compliance with CASS rules and regulations. Without adequate governance and oversight frameworks, financial organisations will struggle to satisfy FCA expectations. But achieving this is often more difficult than it first seems. After all, building a culture that promotes change and innovation…

CASS audit for investment firms: How to overcome the challenges

Posted: 25/02/2022 | Read time: 4 minutes   The annual CASS audit always presents significant challenges for firms holding client money or custody assets. Investment firms are required by the Handbook to send a client assets report to the regulator on an annual basis. This report must be prepared and provided to the FCA by…

Regulatory Reporting: Understanding the PRA’s latest letter

Posted: 22/10/2021 | Read time: 5 minutes   Spotlight on Regulatory Reporting In late 2019, communication from the PRA emphasised that banks and building societies are expected to submit “complete, timely, and accurate regulatory returns.” Since then, they have conducted follow-up investigations into the quality of reporting across the industry. From these findings, a recent…