Over the past year, the FSA has identified a number of failings of regulated firms that held client money and client assets. Consequently, the FSA has increased its resource devoted to this issue and now has a specialist unit focused on firms' compliance with its CASS Rules.

Non-compliance with client money rules is a leading cause for firms being fined by the FSA, and the fines are 1% of the client money and client assets that your firm holds! Have a look at some of the recent cases below:

• http://www.fsa.gov.uk/pages/Library/Communication/PR/2011/014.shtml (Barclays fined £1.2 million)
• http://www.fsa.gov.uk/pages/Library/Communication/PR/2011/030.shtml (FX broker fined £85,750)
• http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/139.shtml (Broker banned)
• http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/089.shtml (JP Morgan fined £33.32 million)

Inmarkets is the leading provider of FSA compliance training and we have helped firms ranging from 100 to 20,000 employees to conduct awareness training and comply with the CASS rules.