The Financial Conduct Authority’s overhaul of client assets regime
By Dianne Bell
Around 1,500 firms regulated by the Financial Conduct Authority (FCA) (collectively holding more than £10tn of custody assets and more than £100bn of client money) are subject to the client assets regime and must now get to grips with substantial changes coming into effect under the FCA’s Client Assets rules (CASS).
Last week, the FCA released its long-awaited final policy and rules, namely PS 14/9 Review of the Client Assets Regime for Investment Business (PS14/9). Its provisions come into effect in stages from next month and through to June 2015.
This review considered a complete overhaul of the FCA’s rules on client money and client assets in order to arrive at a package of changes that would achieve three outcomes: faster return of money and assets to clients; lower shortfalls of client money and client assets returned to clients; and greater market stability in event of firm failure…
Click on the link below to read the rest of the Wragge Lawrence Graham & Co briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Wragge Lawrence Graham & Co
News from The Lawyer
Briefings from Wragge Lawrence Graham & Co
Practical pointers for those who may get involved.
Dell, Inc has succeeded before the General Court in opposing the registration of LEXDELL.