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CASS 10.2 Core content requirements

CASS 10.2.1R

A firm must include within its CASS resolution pack:

  1. (1)

    a master document containing information sufficient to retrieve each document in the firm's CASS resolution pack;

  2. (2)

    a document which identifies the institutions the firm has appointed (including through an appointed representative, tied agent, field representative or other agent):

    1. (a)

      in the case of client money, for the placement of money in accordance with CASS 7.13.3 R1 or to hold client money in accordance with CASS 7.14.2 R1; and

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    2. (b)

      in the case of safe custody assets, for the deposit of those assets in accordance with CASS 6.3.1 R;

  3. (3)

    a document which identifies each appointed representative, tied agent, field representative or other agent of the firm which receives client money or safe custody assets in its capacity as the firm's agent;

  4. (4)

    a document which identifies:

    1. (a)

      each senior manager and director and any other individual and the nature of their responsibility within the firm who is critical or important to the performance of operational functions related to any of the obligations imposed on the firm by CASS 6 or CASS 7; and

    2. (b)

      the individual to whom responsibility for CASS operational oversight has been allocated under CASS 1A.3.1 R or, as the case may be, to whom the CASS operational oversight function has been allocated under CASS 1A.3.1A R;

  5. (5)

    for each institution identified in CASS 10.2.1R (2), a copy of each executed agreement, including any side letters or other agreements used to clarify or modify the terms of the executed agreement, between that institution and the firm that relates to the holding of client money or safe custody assets including any written notification or acknowledgement letters1sent or received pursuant to CASS 7.181;

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  6. (6)

    a document which:

    1. (a)

      identifies each member of the firm's group involved in operational functions related to any obligations imposed on the firm under CASS 6 or CASS 7, including in the case of a member that is a nominee company, identification as such; and

    2. (b)

      identifies each third party which the firm uses for the performance of operational functions related to any of the obligations imposed on the firm by CASS 6 or CASS 7; and

    3. (c)

      for each group member identified in (a), the type of entity (such as branch, subsidiary and or nominee company) the group member is, its jurisdiction of incorporation if applicable, and a description of its related operational functions;

  7. (7)

    a copy of each executed agreement, including any side letters or other agreements used to clarify or modify the terms of the executed agreement, between the firm and each third party identified in (6)(b);

  8. (8)

    where the firm relies on a third party identified in (6)(b), a document which describes how to:

    1. (a)

      gain access to relevant information held by that third party; and

    2. (b)

      effect a transfer of any of the client money or safe custody assets held by the firm, but controlled by that third party; and

  9. (9)

    a copy of the firm's manual in which are recorded its procedures for the management, recording and transfer of the client money and safe custody assets that it holds.

CASS 10.2.2G

For the purpose of CASS 10.2.1R (4), examples of individuals within the firm who are critical or important to the performance of operational functions include:

  1. (1)

    those necessary to carry out both internal and external client money and safe custody asset reconciliations and record checks1; and

  2. (2)

    those in charge of client documentation for business involving client money and safe custody assets.

CASS 10.2.3R

For the purpose of CASS 10.2.1R (2), a firm must ensure that the document records:

  1. (1)

    the full name of the individual institution in question;

  2. (2)

    the postal and email address and telephone number of that institution; and

  3. (3)

    the numbers of all accounts opened by that firm with that institution.