Records, accounts and reconciliations - CASS Provision
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
Update to {{anat|cass}}