News
Below you will find a range of published articles which I hope you find of interest. You may also be interested in obtaining a copy of a book of which Anthony Smith is one of the co-authors through the link below. A topical news item will be added on a regular basis and I am more than happy to receive contributions via our Contact Page.
Order your copy of the Frontiers of Risk Management from EuroMoney Books.
News articles for December 2011
1 item found
Transact CASS Fine £3.5m
Published: December 2011
By: Anthony Smith
The FSA continue to enforce the CASS rules in full regardless of customer detriment. Transact failed to perform an internal reconciliation for 8 years and had inadequate systems and controls with a lack of experienced senior staff. Compliance failed to pick up the breaches and relied on audit opinions which also failed to identify the breaches; no excuse for the FSA.
This highlights the need for competent staff who understand the CASS rules at a senior level.....
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