FSA has created a new modification by consent for CASS medium and large firms that have cancelled their authority and permission related to client money. These firms would, with immediate effect, no longer need to be categorised as such, to submit the monthly Client Money and Asset Return (CMAR) report, or to have a director or senior manager performing the CF10a (CASS operational oversight) controlled function. The application for modification will need to be accompanied by a letter from the external auditor confirming that the firm no longer holds client money or safeguards or administers custody assets. (Source: Modification by Consent of CASS 1A.1.1R (3))