Compliance with the FCA’s CASS rules continues to be a challenge for UK-regulated investment firms and the regulator looks set to retain its focus on this topic.
It was clear when we published our 2018 CASS survey that we were entering a period of consolidation for CASS regulation. This presented those responsible for CASS compliance an opportunity to ‘Reduce the Burden’ of their operational responsibilities through the optimisation of processes, automation of controls, and reduction of both operational risk and costs.
All of you will now have been through at least two Audits under the enhanced FRC standard and will no doubt be looking at options to simplify what has become, in many cases, a manually intensive process.
In addition, there are other market changes impacting CASS regulations from SMCR implementation through to a new chapter to address the impact of EU Withdrawal. How market participants are addressing all of these issues, and more, are addressed within this survey.
This is the largest survey of its kind of which we’re aware and feedback from participants, and the market more broadly, has been overwhelmingly positive. We plan to continue to bring the insight and intelligence garnered from the wealth of data collected, including year on year trend analysis.
As per previous years, all respondents will receive an electronic copy of the summary report.