TISA to form Client Money Committee
TISA is to establish a committee to consider the large number of issues surrounding compliance with the FSA’s Client Assets and Client Money Rules. The intention is to create a forum to share experiences and to identify best practice.
The move follows a TISA seminar held last month where delegates asked the Association to take the lead by establishing a committee and interacting with the FSA.
Malcolm Small, TISA Director of Policy said:
“It has been clear to TISA for some time that there are real and growing issues around the Client Money rules. This was reinforced at our seminar and the audience felt that a TISA led forum would be the most practical way to address the issues, promote awareness of the requirements and help to determine what constitutes good governance and best practice.
“TISA is very happy to respond to that need and we are now seeking representatives to form the committee membership.”
TISA’s seminar, held in association with Kinetic Partners, heard that the Client Assets and Client Money rules are towards the top of the FSA’s agenda and that compliance is challenging with many thematic reviews resulting in adverse findings.
Slide presentations from the seminar: ‘Beware of CASS – a practical workshop for management exploring the challenges of CASS compliance’ can be viewed on TISA’s website www.tisa.uk.com
To register an interest in joining the Client Money Committee contact Angela Stubbs at TISA, angela.stubbs@tisa.uk.com or telephone: 01642 666984.
Ends……
For further information, please contact:
Malcolm Small, Director of Policy, Mobile: 07989 500771 Email: malcolm.small@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786 Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of savings vehicles & services and centralised investment propositions.