Approved Persons preparation

A minimum of 50,000 individuals will become Approved Persons under the new regime. Do you understand what’s expected of you by the FCA, if you need help in preparing to be an Approved Persons then give me a call.

Being an Approved Person brings with it a number of important responsibilities, including a duty to be aware of and comply with FCA regulatory requirements and expectations and also understand how they apply to the firms day to day activities. Click here for more details Approved Persons

Are you ‘READY, WILLING and ORGANISED’

Many firms new to regulation will be submitting their applications in October, but are you ‘READY, WILLING and ORGANISED’ thats the question the FCA will be asking. The authorisation process requires information about your business, your governance, your systems and controls, your strategy. Before you submit your application consider whether you are ‘READY, WILLING and ORGANISED’. Click here for further information. Ready Willing and Organised

Using a compliance consultant

To meet the requirements of the FCA Systems and Controls rulebook, in particular rule 6.1.1. A firm must establish, implement and maintain adequate policies and procedures sufficient to ensure compliance of the firm including its managers, employees and appointed representatives (or where applicable tied agents) with its obligations under the regulatory system and for countering the risk that the firm might be used to further financial crime.

It is each firms responsibility to ensure they meet the requirements of SYSC 6.1.1, every firm, large and small are responsible for ensuring compliance with the regulatory system, whether or not they use a compliance consultant. You cannot contract out your regulatory obligations, so if you are looking for compliance support you must ensure that the consultancy meets your needs.

Click here for the further information on Compliance Consultancy