The CAS mechanism in .NET is used to control and configure the ability of managed code. Earlier, as this policy was applicable for only native applications, the security guarantee was limited. Therefore, developers used to look for alternating solutions, such as operating system-level solutions. This problem was solved in .NET Framework 4 by turning off the machine-wide security. The shared and hosted Web applications can now run more securely. The security policy in .NET Framework 4 has been simplified using the transparency model. This model allows you to run the Web applications without concerning about the CAS policies.
As a result of security policy changes in .NET Framework 4.0, you may encounter compilation warnings and runtime exceptions, if your try to use the obsolete CAS policy types and members either implicitly or explicitly. However, you can avoid the warnings and errors by using the <NetFx40_LegacySecurityPolicy> configuration element in the runtime settings schema to opt into the obsolete CAS policy behavior.