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

Records, accounts and reconciliations - CASS Provision (view source)

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 {{casssnap|6.5}}
+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'''
+[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}}