Records, accounts and reconciliations - CASS Provision: Difference between revisions

From The Jolly Contrarian
Jump to navigation Jump to search
No edit summary
No edit summary
 
Line 10: Line 10:
*'''Notification requirements'''
*'''Notification requirements'''
*'''Audit of compliance with the MiFID custody rules'''
*'''Audit of compliance with the MiFID custody rules'''
[Note: article 16(1)(a) of the MiFID implementing Directive]
CASS 6.5.201/01/2009
FCAA firm must maintain its records and accounts in a way that ensures their accuracy, and in particular their correspondence to the1 safe custody assets1 held for clients.
[Note: article 16(1)(b) of the MiFID implementing Directive]
CASS 6.5.2A01/03/2011
FCA3A firm must keep a copy of every executed client agreement that includes that firm's right to use safe custody assets for its own account, including in the case of a prime brokerage agreement the disclosure annex referred




{{cassanatomy}}
{{cassanatomy}}

Latest revision as of 13:51, 29 April 2013

Template:CASS Section 6.5

(View Template)

Cass 6.5 provides, in sum:

  • Records and Accounts
  • Record Keeping: records must be kept for at least five years.
  • Internal reconciliation of safe custody assets held for clients
  • Reconciliations with external records
  • Frequency of external reconciliations
  • Independence of person conducting reconciliations
  • Reconciliation discrepancies
  • Notification requirements
  • Audit of compliance with the MiFID custody rules


Update to {{anat|cass}}

Retrieved from "https://jollycontrarian.com/index.php?title=Records,_accounts_and_reconciliations_-_CASS_Provision&oldid=5318"