Online training
Client Assets (CFRA)
This Client Assets course will provide you with an understanding of the FCA's Client Asset rules and the importance of safeguarding client assets. You will also know the key provisions of the Client Money and Custody rules.
Geography Covered: EMEA | Duration: 45 minutes
Summary
The financial services industry requires the trust of its customers, and a key foundation of that trust is the belief that the industry will keep the money and investments of customers safe. This concept is known as "safe custody." Market events during the past few years, such as the failure of Northern Rock and the Lehman insolvency, have highlighted the importance of protecting assets belonging to clients.
To ensure that client investments are protected and not misused, there are very strict rules enforced by the Financial Conduct Authority (FCA) that firms must follow. The aim of these Client Asset rules is to safeguard client assets should the firm become insolvent. Breaches of these rules can result in severe reputational damage and financial penalties.
The topics covered in the course include:
- Background on FCA’s Client Asset rules
- Key requirements
- Definition of client money
- Client money rules
- Custody rules
Try a course and see how easy it can be to keep your employees up to speed