This module introduces CASS 5, which contains the FCA’s client money rules for insurance intermediaries. We provide an overview of what the rules are and what they look like in practice, including how to determine what constitutes ‘client money’. We also look at how the FCA expects insurance intermediaries to act when handling client money, and how businesses can stay on the right side of the regulator.
Learning Outcomes for this module include:
Understand CASS 5 and why the rules are in place
Ability to Identify client money and discover the steps that firms must take to safeguard client money
Understand the two options for client money calculations and reconciliations
Find out about the common errors that firms make regarding CASS 5, and the potential consequences if FCA rules are flouted
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