Related provisions for ICOBS 1.1.2

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

The application of certain rules in this chapter depends upon the ‘CASS firm type’ within which a firm falls. The ‘CASS firm types’ are defined in accordance with CASS 1A.2.7 R. The ‘CASS firm type’ within which a firm falls is also used to determine whether it is required to have the CASS operational oversight function described in CASS 1A.3.1A R and1 whether 4the reporting obligations in SUP 16.14 (Client money and asset return) apply to it4.4
The general application rule is also modified in the chapters of this sourcebook for particular purposes, including those relating to the type of firm, its activities or location, and for purposes relating to connected activities.
Guidance on the application provisions is in ICOBS 1 Annex 1 (Part 4).
CASS 11.1.2GRP
The requirements imposed on a CASS debt management firm that holds client money vary depending on whether a firm is classified as a CASS small debt management firm or a CASS large debt management firm in CASS 11.2.3 R (CASS debt management firm types). CASS 11.1.4 R to CASS 11.1.6 R indicate which rules in the debt management client money chapter apply to which category of firm.
CASS 11.1.4RRP

Subject to CASS 11.1.6 R, only the rules and guidance in the debt management client money chapter listed in the table below apply to CASS small debt management firms.



CASS 11.1.1 R to CASS 11.1.4 R and CASS 11.1.6 R


CASS 11.2.1 R to CASS 11.2.9 G

Firm classification

CASS 11.3.1 R to CASS 11.3.2 R and CASS 11.3.6 R

Responsibility for CASS operational oversight

CASS 11.4.1 G to CASS 11.4.4 G

Definition of client money and discharge of fiduciary duty

CASS 11.5.1 R and CASS 11.5.2 R

Organisational requirements

CASS 11.6.1 R and CASS 11.6.2 G

Statutory trust

CASS 11.7.1 G and CASS 11.7.5 G

Selecting an approved bank at which to hold client money

CASS 11.8.1 G to CASS 11.8.13 R

Client bank account acknowledgement letters

CASS 11.9.1 R to CASS 11.9.13 G

Segregation and the operation of client money accounts

CASS 11.10.1 R to CASS 11.10.7 G

Payments to creditors

CASS 11.11.1 R to CASS 11.11.12 R , CASS 11.11.30 R and CASS 11.11.32 G

Records, accounts and reconciliations

CASS 11.12.1 G to CASS 11.12.7 R

CASS 11 resolution pack

CASS 11.13.1 R to CASS 11.13.14 R

Client money distribution in the event of a failure of a firm or approved bank

5The rules and guidance in CASS 1A.2 (CASS firm classification) do not apply to a firm following its failure.