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We are here for you, small firm, big multinational, private individual. Bank, private bank, wealth manager, asset manager, investment adviser, hedge fund, investment platform, stockbroker, corporate financier, insurance broker, consumer credit adviser. We've advised, guided and supported you.
Sharing our know-how
SERIOUS REGULATORY BREACH
A client had been contacted by the FCA as their latest regulatory return showed a material deficit in their regulatory capital and they had not notified the FCA. We spoke to the FCA and arranged for the capital to be brought up to the required level over a few weeks and no enforcement action has been taken.
An individual with over 30 years experience had been invited for interview by the FCA for the 3 Senior Manager Functions they had applied to hold. The individual had been turned down by the regulators in the past for their previous SMF applications. We discussed the interview, the regulatory approach, areas of focus and how to demonstrate the individual really was competent and capable for the roles they had applied for. the FCA approved their application within a week of their interview.
A banking firm had used a consulting firm to help them implement SMCR. The consultants had left and the firm needed help to complete their implementation, and achieve deeper understanding amongst their senior managers. One particular challenge was their approach reasonable steps. We provided training, templates and drafted internal policies and procedures. The individuals in their SMCR office gained the confidence they needed to operate the regime.
Three years into their FCA authorisation a pan-European investment advisory firm wanted to check they were up to date. Their compliance officer was covering several other roles and needed confidence they remained in compliance with all the rules that applied to their business. We carried out an onsite health check, updating multiple documents together and making some Principle 11 notifications to ensure the FCA was fully apprised of how the firm had changed and developed since it had been first authorised.