Assist the industry in identifying key issues arising from the need to protect customer assets without increasing costs, complexities and time
Regulated firms that hold client money are required to follow the FCA Client Assets sourcebook (CASS) guidance and provide regular CMAR returns. Firms may be fined large sums for not having adequate CASS systems and controls in place, which could lead to both financial and reputational damage, and cause concern to consumers.
The Client Assets Technical Committee helps firms to comply with the requirements from the FCA Handbook for Client Assets under Business Standards, which are designed to ensure that customers assets are fully protected and that firms have adequate systems and controls in place. This requires evidencing and continual maintenance which must then stand up to scrutiny from external annual audits. The rules can be complex and regulatory expectations are high in ensuring there has been no consumer detriment.
The TISA Client Assets Technical Committee serves the needs of those individuals and member organisations represented by TISA for a meeting point where best operating and technical practice can be shared, and common challenges debated. It acts as a centre of expertise for TISA with regard to the operational and technical aspects of issues relating to Client Assets and Money, including regulatory matters, which specifically impact their administration and procedures. With member attendees from a range of sectors within the financial services industry, the group informs engagement with policymakers and regulators.
Aberdeen Group
Adempi Associates LLP
A J Bell Securities
Aegon UK
Allfunds Bank S.A.U
Arbuthnot Latham & Co
Aviva Investors
Aviva plc
Aviva UK Insurance
Bank of Ireland
Barclays Wealth
Baringa Partners LLP
Benchmark Capital
BNY
BNY Pershing
Brown Shipley & Co Ltd
CACEIS Bank
Capital Group
Canada Life Ltd
Cazenove Capital
Charles Stanley & Co Ltd
CMS Cameron McKenna Nabarro Olswang LLP
Computershare Investor Services plc
Coutts & Co
Cushon
Delta Financial Systems
Digital Moneybox
Equiniti Financial Services Limited (EFSL)
Ernst & Young
Euroclear SA/NV
Evelyn Partners
Fidelity International
Financial Software
FNZ
Freetrade Limited
Halifax Share Dealing
Hargreaves Lansdown
HSBC
Interactive Brokers (U.K.) Limited
Interactive Investor
Invesco
InvestEngine
James Hambro & Partners LLP
JM Finn & Co
Jupiter Asset Management
Kroll
L & G plc
LGT Wealth Management UK LLP
Lloyds Banking Group
LV=
M&G Investments
NatWest plc
Novia Financial Plc
Nucleus Financial Group Limited
Octopus Money Unit Trust Managers Ltd
OneFamily
Orbis Investments (U.K.) Limited
Parmenion Capital Partners LLP
Pinsent Masons LLP
PKF Littlejohn
Platform One Limited
Quilter (formerly Old Mutual Wealth)
Quilter PLC
RBC Brewin Dolphin
RBC Europe
Redmayne Bentley
Royal Bank of Scotland
Santander Asset Management UK Limited
Saxo Capital Markets UK Limited
SEI Investment (Europe) Ltd
Sentinel Portfolio Management
Simmons & Simmons
Square 4 Partners Ltd
Seven Investment Management
SS&C
State Street
St James’s Place Wealth Management
T Rowe Price
T. Rowe Price UK Limited
Third Platform Services Limited
The Tracing Group
Thesis Asset Management
Third Platform Services Limited
TrinityBridge
U.S. Bank Europe DAC
Vanguard Asset Management
Walbrook Partners
Walker Crips Investment Management Limited
Waystone
Wealthify
WealthKernel Limited
Yealand Fund Services Limited
Steve Latto, Policy Executive
leads on this work
Chair: Nick Kinseley, RBC Europe
Deputy Chair: Jonathan Ford, LBG
