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Navigating the New FCA Safeguarding Rules SUP 3A: Extending the CASS Style Audit Approach to Payment & E-Money Firms The FCA's CP24/20 introduces stricter safeguarding rules for Payment and E-Money firms, extending the CASS Audit framework's approach to control effectiveness and substantive testing. Firms must enhance their risk management and control systems to ensure compliance, as rigorous audits will assess the effectiveness of these safeguards.
 Platform development What’s New at Grath | Governance, Risk & Compliance At Grath, we continuously strive to evolve and enhance our platform based on your feedback. We are pleased to introduce the latest updates to the GRC module, designed to streamline your processes, improve data integrity, and enhance your overall experience. The New Safeguarding Regulations The New Safeguarding Regulations – What They Mean and When for Payment Firms and E-Money Institutions
Regulatory Change FCA CP24/20 Consultation Paper After much anticipation, the FCA has released the long-awaited CP24/20 consultation paper on changes to the Safeguarding Regime - “Changes to the safeguarding regime for payments and e-money firms”. How Reconciliation Best Practices Reflect Strong Governance Reconciliations are more than financial tasks—they reflect a company’s commitment to accuracy, accountability, and strong governance. This article highlights how adopting best practices in reconciliations strengthens financial integrity and builds trust with stakeholders. Grath Expands Operations to The Middle East Grath Expands Operations to The Middle East Grath, a leading global platform for financial services and regulatory compliance technology, is excited to announce its strategic expansion into the Middle East by opening a new office in the prestigious Dubai International Finance Centre (DIFC). Dormant Asset Scheme What is the Dormant Assets Scheme (DAS)? The Dormant Assets Scheme (DAS) allows financial institutions to transfer unclaimed assets to Reclaim Fund Limited (RFL), a government-overseen entity. Expanded by the Dormant Assets Act 2022, DAS now includes various financial products, requiring firms with CASS permissions to accurately reconcile, manage, and attempt to return dormant assets before transferring them to the RFL.
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CASS6 CASS 6 Challenges – Getting Your Custody Reconciliations Right Chapter 6 of the Client Asset Sourcebook (CASS) mandates that firms accurately and completely hold and reconcile client assets, ensuring internal records match actual holdings to protect clients and meet regulatory requirements. Although CASS 7 has more detailed rules on client money, the fundamental controls like segregation, record accuracy, maintenance, and reconciliation are consistent across both chapters. CASS and Safeguarding: 10 Key Considerations When Transitioning from Spreadsheets to Automated Solutions CASS and Safeguarding: 10 Key Considerations When Transitioning from Spreadsheets to Automated Solutions The article discusses the challenges firms face in transitioning from spreadsheet-based to automated systems for CASS (Client Assets Sourcebook) and Safeguarding reconciliations, which are crucial for compliance audits. As firms enhance their governance and operational models for client assets and customer funds, system and process automation becomes essential. This migration is complex due to the critical nature of reconciliations and the stringent notification requirements from the FCA in case of failures. Successful migration requires careful management and alignment among stakeholders to ensure accuracy and reliability. With all of that, here are 10 key considerations when transitioning from spreadsheets to automated solutions that you should keep in mind.

CASS 7 reconciliations – Common fallacies and rule misconceptions CASS 7 reconciliations – Common fallacies and rule misconceptions Navigating the intricacies of CASS 7 reconciliations involves understanding common fallacies and rule misconceptions. Holding client money isn't a regulated activity per se but requires FCA permission. Firms must adhere to strict rules to protect client money, ensuring accurate reconciliations and compliance with FCA regulations. This article delves into defining approaches, prudent segregation, interest allocation, post-insolvency activities, reconciliation frequency, and audit trails, providing insights into managing CASS 7 obligations effectively. Events Grath & fscom: FCA’s Safeguarding Consultation Webinar As the FCA’s safeguarding consultation approaches, we at Grath partnered with fscom to guide you through the essentials to ensure your firm is ready. Events Proactive Safeguarding Strategies – FCA Safeguarding Webinar Join us for this webinar on June 26th from 11:00 to 12:00! As the FCA’s safeguarding consultation approaches, we at Grath are partnering with fscom to guide you through the essentials to ensure your firm is ready. Registration details below.
Consumer Duty levelling up Risk & Compliance Consumer Duty | Part 5 | Consumer Duty Levelling Up Program 💷😊 Rounding off the Consumer Duty insight series, we now discuss the Consumer Duty levelling up program, supported by our best-in-class Risk and Compliance software. Platform One Partners With Grath Customer Spotlight Platform One Partners With Grath 🤝 Platform One has chosen Grath's GRC solution to automate its regulatory Risk and Compliance function. Continuing Consumer Duty insight series Risk & Compliance Consumer Duty | Part 4 | Price & Fair Value 💷😊 Continuing our Consumer Duty insight series, in part 4, Grath investigates how technology solutions aid firms in meeting consumer needs and ensuring positive outcomes, particularly concerning fair pricing and value.
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