Last reviewed: July 2026 Quick answer: CASS 15 requires payment and e-money firms to run two distinct reconciliations — internal and external — on every reconciliation day, comparing what the firm should be safeguarding against what it actually holds. Any shortfall must be corrected from the firm’s own funds by the end of the day…
Last reviewed: July 2026 Quick answer: A CASS Resolution Pack (RP) is a structured set of documents, mandated under CASS 10A for payment and e-money firms (and CASS 10 for investment firms), that allows an administrator or insolvency practitioner to quickly identify and return customer funds if a firm fails. It isn’t a wind-down plan,…
Last reviewed: July 2026 Quick answer: CASS 15 is the FCA’s new sourcebook chapter setting out detailed, mandatory rules on how payment institutions and e-money institutions must safeguard customer funds. It forms the “Supplementary Regime,” which came into force on 7 May 2026. It requires daily reconciliations, monthly regulatory returns, annual audits (for most firms),…
Introduction to FCA Dormant Assets The Financial Conduct Authority (FCA) has implemented new regulations concerning dormant assets. These efforts aim to make the management and distribution of unclaimed financial assets more transparent and efficient. Dormant assets refer to financial products that have not been used or claimed over a significant period, often including bank accounts,…
