CASS mandates that firms must put systems and controls in place to meet their obligations to maintain their records and accounts in a way that ensures their accuracy and in particular their correspondence to safe custody assets held for clients.
The FCA expects better record-keeping and record retention to prove controls are in place, operating effectively and that clients are indeed protected.
This paper focuses on how CASS requirements for client assets can be met by automating firms’ manual and often complex processes, hence ensuring ongoing compliance.
Comply with CASS 6 – Custody Rules
AutoRek will enable an automated control regime to be put in place that will combat these common issues. In addition, capacity will be freed up to focus on root cause analysis and resolution of breaks, rather than time spent performing the reconciliations.
The approach adopted by AutoRek for custody asset reconciliations and reporting assumes the following process:
- Constant Activity
- Formal Preparation
- Sign Off
- Enterprise Level Review
Download the document now 1.5 mb (Chrome HTML Document)