ADVANCED

The Role of the CF10a; Client assets Oversight

The Role of the CF10a; Client assets Oversight

Frequency: Bi-monthly  

Duration: 3 hours

Location: Cordium UK offices, 130 Jermyn Street, London, SW1Y 4UR

Cost: £349 + VAT

Course Overview:

Since the financial crash and, more specifically, the demise of Lehman Bros., the FCA has become focused on firms’ ability to demonstrate they have sufficient resources, expertise and procedures in place to avoid client money/custody disasters.

This relatively new function was introduced by the Regulator in 2011. The CF10a, role carries much responsibility for ensuring the relevant firm keeps up with changes in CASS requirements and is ready to react in the case of another custodian’s failure.

This course emphasises the requirements and responsibilities the CF10A role has to carry as a matter of routine to meet regulatory and client expectations in the event of another Lehman’s. The CF10A cannot do it all by him or herself…

Course Objectives:

Attendance on this course will enable you to:

  • Describe the role and responsibilities of the CF10a function
  • Assess the impact of responsibilities on current corporate governance arrangements in their firm
  • Benchmark current policies and procedures against best practice
  • Identify changes that need to be made to current arrangements to enable compliance with new obligations under the Client Asset Rules, including ‘Resolution’ arrangements
  • Do what it takes to demonstrate compliance

Key topics:

  • Client Assets (CASS) – Case studies
  • The FCA’s stance – Regulation & the Client Asset Unit
  • The CF10a Role and Scope of the Rules
  • Systems and Controls
  • CF10a – aspects of the CASS Rules
  • CASS Resolution Pack
  • The latest from the FCA

Course aimed at: Senior Management, CF10a, Prospective CF10a’s and Compliance

Maximum numbers: 12

This course can also be delivered as an onsite course or as an instructor lead course at a firm’s office.