Operations Unpacked: CASS - Past, Present & Future
🎙️🎉 We’ve hit double digits To mark the milestone, Episode 10 of Operations Unpacked is a Scottish special on the much-loved theme of Client Assets (CASS)! 🎉🎙️
Colin Anderson and I were thrilled to be joined by the co-Chairs of the Scottish CASS formum, Gail Thomson ACSI, CCBI and Shaid Moughal to discuss the origins of CASS, that nature of the regulatory requirements, how it can be implemented, and what happens when things go wrong.
In 45 minutes we covered:
💸 Why CASS exists in the first place, and how the regulations have changed over time since the 2008 financial crisis
🤹♀️ The nature of the rules and how they are a tricky mix of rules and principles
🫵 What Gail and Shaid’s firms have implemented to keep up with the ever-changing requirements, notably in response to the SM&CR, which brought in much deeper accountability at a personal level
📚 How firms go about keeping up with the every changing CASS landscape, including new industries, as well as simplifications
🎓 Why doing the CISI CASS Exams was so beneficial to Gail on a personal level to complement her practical job experience, while Shaid cut his CASS teeth working for an extended period alongside consulting experts
💰 What people can learn from the FCA Final Notices and s.166 reviews. Spoiler: you get an insight into the regulator’s thought process!
🛑 The interaction between the CASS and sanctions regime
Predictions on what the future may hold for the CASS regime
😎 How the CASS regime will provide protection to new investment spaces such as retail investment into crypto assets
My biggest takeaway is that the ability of firms to meet the CASS regime’s strict requirements is so dependent on the expertise of the individuals working for that firm.
Huge thanks to Gail and Shaid for sharing their expertise and experience!
🎧 Listen now: this podcast is available on Apple, Amazon, Spotify, and CISI.TV. You'll find the links in the comments.
🚀 We’ve got a whole host of brilliant episodes in the pipeline including a Day in the Life, the role of Company Secretaries, and how to become a Non-Executive Director.
❓Do you have any operational topics you'd like us to unpack? Send me a DM...
✨Creator credits✨
Presenters: Victoria Sena and Colin Anderson
Editor: Ollie Murphy
Platform: The Chartered Institute for Securities & Investment (The CISI)
🎧 Listen now: