The CASS Resolution Pack is a set of documents and records to help an insolvency practitioner identify the client money and client assets a firm holds. The firm must keep the documents and records up to date and they must be retrievable on short notice.
CASS is one of several regulatory initiatives designed to speed up the distribution of client money and client assets on a firm's insolvency. These initiatives seek to address problems with the current system which emerged in the administrations of Lehman Brothers International and of MF Global UK Limited.
FSA authorised firms subject to CASS must have in place a CASS resolution pack by 1 October 2012. This briefing summarises who is affected and what needs to be done before the FSA comes knocking.
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