Regulatory Alerts2017-01-23
Added · Updated
PS17/18: CASS 7A and the special administration regime review
The Financial Conduct Authority introduces final rules amending CASS 7A to allow the transfer of the client money pool in whole or in part following a primary pooling event, subject to client consent or written agreement and specific safeguards. The rules establish new post-failure custody provisions in CASS 6.7 requiring communication and safeguarding measures, while explicitly excluding these custody rules from the annual CASS audit. Firms must notify clients of transfers within 14 days and make minimum contact attempts before closing the client estate, with the rules coming into force on 26 July 2017.
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