Client Assets Technical Committee

Assist the industry in identifying key issues arising from the need to protect customer assets without increasing costs, complexities and time

Industry challenge

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.

Group purpose

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.

Areas of focus

  • Improving consumer access to financial guidance.


Client Money and Asset Return (CMAR) Best Practice

Group strategy

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.

Participating member firms

A J Bell Securities
Aegon UK
Allfunds Bank S.A.U
Arbuthnot Latham & Co
Aviva UK Insurance
Baillie Gifford & Co
Barclays Wealth
Baringa Partners LLP
BNY Mellon
Bovill Limited
Brewin Dolphin
Brooks Macdonald
Canada Life Ltd
Cazenove Capital
Charles Stanley & Co Ltd
CMC Markets Investments Limited
CMS Cameron McKenna Nabarro Olswang LLP
Computershare Investor Services plc
Coutts & Co
Cushon Money Limited
Delta Financial Systems
EFG Private Bank
Embark Platform
Evelyn Partners
Fidelity International
Halifax Share Dealing
Hargreaves Lansdown
Interactive Investor
Investec Bank Plc
Investec Wealth & Investment Limited
James Sharp & Co
JM Finn & Co
JPMorgan Asset Management
JPMorgan Chase
JTC Group
L & G plc
LGT Wealth Management UK LLP
Link Group

Lloyds Banking Group
M&G Investments
Maitland Administration Services
Merian Global Investors
Nedbank Private Wealth
Ninety One UK
Northern Trust
Novia Financial Plc
Nucleus Financial Group Limited
Orbis Investments (U.K.) Limited
Parmenion Capital Partners LLP
Pinsent Masons LLP
Platform One Limited
Platform Securities LLP
Prin10 Limited
Punter Southall Wealth Limited
Quilter (formerly Old Mutual Wealth)
Quilter PLC
Raymond James Investment Services Limited
RBC Investor & Treasury Services
Redmayne Bentley
Rowan Dartington & Co Ltd
Royal Bank of Scotland
Santander Asset Management UK Limited
Saxo Capital Markets UK Limited
Scottish Widows Plc
Seccl Custody Limited
SEI Investment (Europe) Ltd
Seven Investment Management
SS&C Financial Services Europe Limited
St James’s Place Wealth Management
Standard Life PLC
T Rowe Price
T. Rowe Price UK Limited
Target Group
Thesis Asset Management
Vanguard Asset Management
Thesis Asset Management
Walbrook Partners
Walker Crips Investment Management Limited
Wesleyan Assurance Society
Winterflood Securities Limited

Lisa Laybourn,
Head of Technical Policy and Regulation leads on this work at TISA

Chair: Nick Kinseley, RBC

Deputy Chair: Jonathan Ford, Lloyds Bank

If you are a TISA member, and would like to get involved with the Client Assets work, please get in touch

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