The Four Reconciliations of CASS 15
What the FCA safeguarding rules require, and which four reconciliations satisfy them. A practitioner session for regulated firms preparing for CASS 15.
The Four Reconciliations of CASS 15
What the FCA safeguarding rules require, and which four reconciliations satisfy them. A practitioner session for regulated firms preparing for CASS 15.
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About this session
With the implementation of CASS 15, the UK Financial Conduct Authority (FCA) has significantly raised the evidentiary bar for safeguarding client funds. Operating models that relied on end-of-month manual spreadsheets or approximate estimates are no longer compliant.
In this in-depth briefing, regulatory specialist Dennis Cheng (Gladius) joins Equali founder Martin Burn to dissect the specific reconciliation controls required under the regime. They walk step-by-step through the four reconciliation models, illustrating real-world break scenarios and how automated match engines prove segregation in audit-ready format every morning.
What you'll learn
- The exact scope and legal obligations of CASS 15 for payment and e-money institutions.
- The 4 distinct reconciliations mandated by the FCA: Internal, External, Individual Client Balance, and D+1 Safeguarding.
- Common failure modes during FCA Section 166 audits and how automated systems prevent discrepancies.
- How to build auditable daily record-keeping without massive engineering overhead.
Featured Speakers
Dennis Cheng
Partner & Head of Regulatory
Gladius Consulting
Martin Burn
Founder & CEO
Equali
Session Details
- Duration
- 45 min
- Category
- CASS 15 & Safeguarding
- Format
- On-Demand Recording
- Date Published
- 14 May 2026
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