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On 1 August 2017, the FCA published consultation paper CP17/29 on client money and unbreakable deposits, which sets out minor amendments to CASS.
PwC has identified the requirement for a ‘single director or a senior manager of sufficient skill and authority’ to be dedicated to CASS oversight (having no other responsibilities) as the CASS change causing the biggest stir from the FCA’s recently released MiFID II policy statement PS17/14.
On Friday 30th of June team AutoRek took part in a ‘Wear it Yellow’ day to support our colleague Steven McAllister in raising £1000 for Cystic Fibrosis.
Last week the Financial Times featured an article that the Intercontinental Exchange (ICE) is going to use an atomic clock to timestamp its European futures trades.
A few months ago I published a blog on the cost of MiFID II and the complexity of complying with the regulation in the short time that is left between now and the 3rd of January, 2018. It is therefore not surprising to read that the latest survey on MiFID II suggests that just under two-thirds of professional services firms might not be in a position to comply on time. The poll taken by Duff and P...
The first CASS audit reports under the new FRC standard are due to be sent to the FRC this week. It is expected that there will be a large increase in adverse opinions as the auditors now look for evidence of the CASS controls in place, and will no longer rely on just sample testing.
Find out more about the upcoming MiFID II changeover and what AutoRek can do to help.
Read our latest blog on CP17/2: CASS 7A and the special administration regime review.
Career progression, excellent benefits a busy social calendar! These are just some of the things you will receive with an AutoRek career. At AutoRek we look for new graduates to be smart, strong problem solvers, analytical and have a serious eye for detail! What is AutoRek? At AutoRek, we provide a range of financial, operational and regulatory reporting and control products for the financial serv...
There has been a marked uptake in CASS automation and governance initiatives since the higher audit standards published by the FRC came into effect.
A recent article published in the Financial Times calculated the cost of Asset Managers implementing MiFID II. While many sell side firms have already spent of millions of euros attempting to meet the regulatory requirements, the full estimate is a staggering €2.5 billion across the industry. This equates to an average of €10.3 million for the top tier companies. The article noted that the majorit...
Many firms are struggling with the limited cash application or auto-cash processing functionality provided by their core administration or accounting systems.
There is no doubt that a myriad of regulatory regimes are competing for your board's attention for planning and budgetary discussions for the upcoming year. The 2017 and 2018 horizon is filled with key compliance challenges such as the Common Reporting Standard (CRS), European Market Infrastructure Regulation (EMIR) and Fundamental Review of Trading Book (FRTB). Each of these regulations is compl...