Client Money Obligations of Insurance Distribution Firms - CASS Breaches & More

Introduction

Insurance distribution firms fall into the category of business that typically hold client money in the course of their services. The rules are of crucial importance and are intended to protect customers in the event of an insolvency of the insurance distribution firm and also of banks that hold client money. This webinar will cover the foundational aspects of the rules and the detailed systems and controls that firms should put in place. It will also address the common failures that firms commit and what can happen when CASS rules are breached, addressing the ramifications for the firm and for directors and management.

This webinar aims to provide a solid understanding of the purpose behind the rules as well as practical tips, so that you can understand how to identify non-compliances and the common pitfalls which can cause difficulty.

What You Will Learn

This webinar will cover the following:

• The mischief that client money rules are intended to avert
• Where relevant rules and guidance are to be found and the impact of European law
• Agency and risk transfer arrangements and their use in insurance markets, systems and controls for the use of TOBAs
• Co-mingling, and the areas where it is permitted
• Segregation and the operation of client money accounts
• Withdrawal of a firm’s commission
• Dealing with appointed representative arrangements
• Client bank accounts
• Notification and acknowledgement of trust status
• Record-keeping obligations
• CASS audits
• Dealing with the FCA and regular and event driven notifications
• Client money distribution
• Safe keeping of clients’ documents and assets
• Common failures of firms

This pre-recorded webinar will be available to view from Friday 13th February 2026

Alternatively, you can gain access to this webinar and 2,101 others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.