Shermeen Kazmi

The FCA has finalised targeted changes to CASS 6 and CASS 7, while maintaining high standards of protection for client money and custody assets. Shermeen Kazmi and Paul Staples consider the key implications for firms and whether they may signal further future changes. The FCA recently published Handbook Notice 142, which includes a collection of amendments to CASS 6 and CASS 7.

The FCA has proposed a new Pension Scheme Money and Assets regime (PSM&A) for Self-Invested Personal Pensions (SIPPs) that use an unauthorised trustee structure. Shermeen Kazmi and Paul Staples explore the key features of the regime and how it differs from the Client Assets Regime (CASS). The SIPPs market has seen significant growth over recent years, holding nearly a third of all assets across FCA-regulated defined contribution pension schemes in 2024.

The Financial Conduct Authority (FCA) has proposed an important overhaul of the UK’s regulatory framework for safeguarding customer funds in the payments sector. Paul Staples explores what the new rules mean for firms, the changes on the horizon, and how businesses can prepare. Safeguarding customer funds has long been a cornerstone of regulatory oversight in the payments sector, but recent events have exposed serious shortcomings.