Services we offer
FCA Authorisation and Variation of Permissions (VoP)
We can advise you on and or project manage each stage of your application for FCA Authorisation or Variation of Permission (VoP). This could include the preparation of the application forms and supporting materials, so that the FCA can quickly understand your business model and grant approval.
Bespoke Compliance Support
We have extensive experience of drawing up compliance structures and framework for various businesses in accordance with FCA rules. We will always work with our client so that we can put in place tailored procedures which enhances their business. This can be either on an ad-hoc basis or via regular on-going support via one of our support packages.
If your business is considering expansion by acquisition or, perhaps, a merger, it’s crucial to have a full understanding of the potential risks involved. We are experienced in carrying out due diligence audits and reports, covering compliance, corporate governance, risk assessment issues.
In addition, if a business is looking to sell, we can also provide a full due diligence review so that it may be included within any documentation provided to a prospective buyer.
This service can also include the change of controller notification to the FCA.
Compliance Health Check
Our health check involves an on-site assessment and desk-based review of a firm’s corporate governance, compliance framework and system and controls, monitoring arrangements and documentation. This is followed by a formal report to the firm’s Board, Business Owners or Senior Management detailing the work carried out, our findings and recommendation to rectify any deficiencies found.
The report can either be provided on a standard alone basis or we can provide further assistance to develop or project manage any of the recommendation to rectify the identified deficiencies.
Professional Indemnity Insurance
We can advise on all aspects of Professional Indemnity Insurance and give you appropriate guidance on FCA’s requirements.
Training and Competency Regime (including recruitment)
We have extensive experience in drawing up compliance documents in accordance with FCA rules. We can put in place a customised compliance procedures manual; draw up or overhaul your Training & Competence scheme; and provide you with all the documents you need to operate your compliance regime.
If you are considering appointing new advisers or support staff, we will provide a tailored recruitment process covering all the checks and assessments that FCA expects you to carry out. This will include a comprehensive assessment of an individual’s competence and compliance skills.
It is important that firms of all shapes and sizes are compliant with the relevant rules and legislation, especially if you are a firm that deal with retail clients. We can help you meet your obligations by reviewing your current marketing materials and provide advice and guidance on what is appropriate. We also have experience of advising on specialist marketing rules under UCITS and Non Mainsteam Pooled Investments.
The FCA complaint handling requirements are contained in the FCA’s Dispute Resolution Sourcebook and requires firms to operate a complaint handling process. We have extensive experience in assisting with building procedures as well as the investigation and handling of all types of complaint. Where necessary, we will liaise on your behalf with FOS and PI Insurers, and we can calculate redress and negotiate settlement – where appropriate.
As part of the system and controls a firm must undertake a root cause analysis to ascertain what remedial action should be taken. This is also a service offered by us as well as preparation of reports to the Board and Senior Management.
We can provide specific training for Senior Management and Staff on the following subjects:-
- Anti-Money Laundering Requirements
- Financial Crime – including Data Protection, Bribery Act, etc.
- Complaints: Receiving, Actioning, Recording
- Treating Customers Fairly (TCF).
- Forthcoming regulatory changes such as MiFID II, GDPR
Sales Files and Business Process Audits
We can provide regular or ad hoc audits to check files and business procedures – with a focus upon the suitability of the advice provided to your clients which take account of current FCA and industry guidance. Follow-up reports and appropriate recommendations for remedial action – if any will be provided to you.
Regulatory Reporting & Capital Adequacy Requirements
We will provide guidance and help on RMAR, GABRIEL and similar matters. If required, we can complete them for you. We can also guide you on the preparation of complex documents such as a firm’s ICAAP and liquidity assessments.
Implementation of Business and Regulatory Projects
We can also provide a range of solutions for a business in respect of forthcoming coming regulatory requirements from providing assistance and gap analysis to project managing the fully implemented of the changes across the business.
Interaction with the FCA
Ahead of any proposed FCA Visit or thematic review we can undertake a complete review of your compliance arrangement as well as training and preparing staff for the FCA Visit.