If your firm is CASS medium or large, you must apply to appoint a director or senior manager who will be responsible for CASS operational oversight. The post-holder is known as a CF10a.
CASS medium and large firms hold client money over £1 million and/or client assets over £10 million.
Apply to appoint a CF10a
- application form (see under Regulatory processes - Supervision forms)
- notes to help you fill in the form
You must:
- explain why the person is capable of doing this role
- enclose the applicant’s CV
- sign the form and make sure all sections are completed
- send the form by post (you can’t send it electronically or by email)
Send the form to: Approved Persons & Reporting Department, Authorisations, Financial Conduct Authority, 25 North Colonnade, London E14 5HS.
Other uses of the form
You can use this form to:
- apply to appoint the same person for other controlled functions
- change or cancel the person with responsibility for operational oversight of CASS (the CF10a)
What the CF10a must do
The responsible person must:
- oversee the operational effectiveness of the firm's CASS systems and controls, which are designed to comply with our rules
- report on their CASS role to your firm's governing body
- complete and submit the Client Money and Asset Return (CMAR) to us
What small firms must do
If your firm is CASS small firm (holding client money of £1 million or less and assets of £10 million or less), you don’t need to apply to appoint a CF10a.
Instead, the responsible person could be either the compliance officer (CF10a) or another director or senior manager (if not the compliance officer, you should keep a record of who this person is).