CASS 15 brings payments and e-money firms under the same rigorous framework that investment firms already follow. The interim rules take effect by end of 2025, requiring:
- Daily reconciliations instead of ad-hoc checks
- Detailed resolution packs for potential insolvency scenarios
- Annual safeguarding audits by independent firms
- Monthly regulatory returns to the FCA
- Statutory trust arrangements that legally protect customer funds
Download the CASS Survival Guide to get practical guidance on building compliant safeguarding practices for your firm.
