This How to Guide brings together best practice, relevant regulations and, roles and responsibilities in a practical framework that you can use to self assess your own inhouse policies and procedures, select sections, and turn them into internal procedures or just add your firm details and adopt it as your internal STOR policy. This How to Guide knits back together the relevant regulatory regimes such as transaction reporting, financial crime and, of course market abuse.
When implementing any regulation a certain tolerance has to be set for regulatory risk. In this How to Guide that regulatory risk tolerance is set for businesses wanting to show they are taking STORs seriously and doing the right thing in their firm based on real regulatory and compliance advisory experience of what other firms are actually doing as best practice, and what the FCA has said they expect.
The How to Guide covers:
- How to evidence to the FCA you are taking STORs seriously
- What to look at during an investigation
- Examples of reportable behaviour
- The STOR report itself and what goes into it
- Links to guidance and rules both present day and historically
- Examples of where other firms have tripped over the rules
The How to Guide is written succinctly and has the crispness expected in wholesale firms whilst getting to the point. The main document is 11 pages long, as it covers examples of what to report and outlines steps to take. The actual STOR report is included in full as an annex.
The How to Guide avoids use of regulatory jargon and legal terminology, but includes definitions of the key terms used when referring to STORs. The How to Guide enables you to apply your own firm's branding and inhouse terminology as it has in plain background and black and white.
We also provide a STOR training pack in the shop that supports implementation of this framework.