CASS Sch 2 Notification requirements
Handbook reference |
Matter to be notified |
Contents of notification |
Trigger event |
Time allowed |
Election to be treated as a CASS medium firm or a CASS large firm |
The fact of that election |
The fact of that election |
To be made at least one week before the election is intended to take effect |
|
8 | 8 | 8 | [deleted]8 8 |
|
8 | 8 | 8 | [deleted]8 8 |
|
8 | 8 | 8 | [deleted]8 8 |
|
The highest total amount of client money and the highest total value of safe custody assets held by a firm, as more fully described in CASS 1A.2.9 R |
The highest total amount of client money and safe custody assets held by a firm, as more fully described in CASS 1A.2.9 R. |
The need to comply with CASS 1A.2.9 R (1)- (3) |
By the fifteenth business day of January8 unless contrary provision is made in CASS 1A.2.9 R 8 |
|
A firm's ‘CASS firm type’ classification |
A firm's ‘CASS firm type’ classification |
The need to comply with CASS 1A.2.9 R (4) |
At the same time the firm makes the notification under CASS 1A.2.9 R (1), (2) or (3)8 8 |
|
8 | 8 | 8 | [deleted]8 8 |
|
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
4 | 4 | 4 | 4 | [deleted]4 4 |
Failure of bank, broker or settlement agent2 |
Full details including whether it intends to make good any shortfall that may have arisen in the amounts involved2 |
Immediately2 |
2
||
Inability to perform the calculation required by CASS 5.5.84 R2 |
Inability to perform the calculation2 |
Inability to perform the calculation2 |
Immediately2 |
2
|
Inability to make good any shortfall identified by CASS 5.5.84 R2 |
Inability to make good any shortfall in client money2 |
Immediately2 |
2
||
Inability to comply with the requirements in CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R; CASS 5.5.84 R2 |
Inability to comply with the requirements of the rules listed2 |
Inability to comply with the requirements of the rules listed2 |
As soon as reasonably practicable2 |
2
|
3CASS 6.5.13R (1) |
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 6.5.1 R (Records and accounts), CASS 6.5.2 R (Records and accounts, including internal reconciliations) or CASS 6.5.6 R (Reconciliations with external records) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay9 |
Non-compliance or material inability to comply with the requirements in CASS 6.5.1 R (Records and accounts) and/or article 89(1)(b) or 89(1)(c) (Safekeeping duties with regard to assets held in custody) of the AIFMD level 2 regulation |
The fact that the firm has not complied or is materially unable to comply with the requirements and the reasons for that |
Non-compliance or material inability to comply with the requirement |
Without delay |
|
3CASS 6.5.13R (2) |
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 6.5.10 R (Reconciliation discrepancies) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
LME bond arrangements |
Issue of an individual letter of credit issued by the firm |
Upon issue of an individual letter of credit under an LME bond arrangement |
Immediately |
|
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 7.6.1R (Records and accounts), CASS 7.6.2R (Records and accounts, including internal reconciliations) or CASS 7.6.9R (Reconciliations with external records) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
|
Non-compliance or inability, in any material respect, to comply with the requirements in CASS 7.6.13R to CASS 7.6.15R (Reconciliation discrepancies) |
The fact that the firm has not complied or is unable, in any material respect, to comply with the requirements and the reasons for that |
Non-compliance or inability, in any material respect, to comply with the requirements |
Without delay |
|
4 | Failure of a third party with which money is held – i.e.: bank, intermediate broker, settlement agent or OTC counterparty or other entity with which it has placed or to which it has passed client money |
Full details |
As soon as the firm becomes aware |
|
4 | Failure of a third party with which money is held – i.e.: bank, intermediate broker, settlement agent or OTC counterparty or other entity with which it has placed or to which it has passed client money |
Intentions regarding making good any shortfall that has arisen or may arise, and of the amounts involved |
Failure of third party with which client money is held |
As soon as reasonably practical7 |
If a firm has not complied with, or is unable to comply with, CASS 10.1.3 R |
The fact of that firm's non-compliance or inability to comply with the rule in CASS 10.1.3 R |
Non-compliance or inability to comply with CASS 10.1.3 R |
Immediately (as per CASS 10.1.16 R) |