Two notable articles this week; please may I draw your attention to the first item on page 1 and the article on Client Money consultation on page 3.

The first article is putting all “small” firms on notice that the FSA will follow up TCF assessments and will use the “ultimate” sanction if a firm does not co-operate and undertake remedial actions.

The second is important reading for all firms who have permission to hold client money. The proposed measures are aimed at avoiding some of the problems created by the demise of Lehmans but will affect all firms as there will be a new Significant Influence Function office holder required to be responsible for client money and a new return - Client Money and Assets Return (CMAR) - to be made specifically regarding client money.

If we can be of any further assistance on these or any other regulatory subjects, please remember your helpline 08456 12 12 11 for a without obligation conversation or email admin@ifact.co.uk.

Kind regards

John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211

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