Our dedicated Financial Services Team provides solutions to a large number of regulated clients, including securities and futures firms, banks, investment management firms, financial advisors and brokers.
We offer assistance with your regulatory application and other applications for approval of individuals, variation of permission, change in controller and waivers. We work with you to build the application pack with all forms and relevant documents and can help with regulator queries.
As a one-off or annual check, we can review your compliance arrangements and procedures including your systems and controls, policies, risk management and documentary evidence to ensure FSA compliance. Findings and recommendations are provided as a written executive report.
A number of firms and individuals have been fined by the FSA for failings concerning the assessment of suitability, specifically those who could not demonstrate the suitability of the advice given. We can complete file reviews to assess for whether the most suitable advice has been given.
Our experienced compliance consultants offer advice and support you need to be confident that you are meeting your regulator requirements and industry best practice. Our ongoing monitoring service involves the review of your existing compliance procedures and documentation, implementation of a tailored, up-to-date Compliance Monitoring Programme, formal on-site visits and ad-hoc advice.
We can help you to create compliance manuals, monitoring programmes, policies and procedures. Our range of compliance documents include client classification letters, anti money laundering procedures, training and competence, senior management systems and controls, treating customers fairly (TCF), personal account dealing, liquidity policy and internal liquidity adequacy assessment (ILAA), remuneration, financial promotions, complaint handling and business continuity plans.
Training and competence
To ensure that your staff are informed and updated on regulatory issues, We provide specialist training to your firm on a range of issues, including anti money laundering, the responsibilities of approved persons and the responsibilities of non executives and the Board.
We can assist you with the preparation of a complete capital adequacy assessment tailored to your firm’s risk factors and capital requirements. We can also help with the review of your existing ICAAP for a one-off check or for annual updates.
The synergy between our experienced accounting team and our compliance professionals allows us to assist with the completion and submission of your financial returns via the GABRIEL system and with any regulatory and periodic reporting to the FSA.
Whether you have been recently notified of an impending ARROW visit or would simply like to test your preparation for one, we can provide an independent review of key documentation and perform mock interviews for a detailed risk assessment of your firm in order to spot any weaknesses that might lead to skilled persons reports or even enforcement action.
Risk mitigation programmes
If the FSA issues a risk mitigation programme (RMP) following a visit to your firm, we can help by interpreting their requirements, effectively implementing the action points and assisting you with negotiations with the FSA to ensure that the final programme is agreed by all parties.
Skilled person’s reports
We have the experience to help you with a skilled person’s report under section 166 of the Financial Services and Markets Act (FSMA) should the FSA decide to appoint an independent person to conduct a review within your firm and report to them on specified matters.
We are able to assist you on any compliance matters, including the interpretation of regulatory implementation such as the Capital Requirements Directive (CRD), treating customers fairly (TCF) and Alternative Investment Fund Managers Directive (AIFMD), FSA fees and levies, dealing with queries raised by the FSA and advising on any ad-hoc issues you may need help with.