Our Consultants have strong backgrounds in supporting firms throughout the authorisation process and have worked with market makers, banks and trading venues on such projects. We are able to support our clients on an A to Z basis from drafting a Regulatory Business Plan to preparing Compliance Policies and Regulatory Capital Models. Given our extensive experience in authorisations we are able to offer ground-breaking turnaround times from document preparation to submission of applications to the FCA.
Bespoke Compliance Support
We believe in providing fully bespoke compliance support solutions to our clients as no two regulated firms are the same in terms of the nature, scale, and complexity of operations.
We work closely with clients to establish suitable compliance support solutions taking into consideration the level of compliance support needed and cost considerations.
Our compliance support solutions are tailored to add-value to our clients and cater to their specific compliance needs.
Speak to us to see how your firm can benefit from a fully bespoke compliance support solution.
Capital adequacy (Pillar 1 and Pillar 2)
We have a deep understanding of regulatory capital requirements imposed on regulated firms. Our experience includes developing regulatory financial models, Internal Capital Adequacy Assessment Processes, Liquidity Adequacy Assessments, Wind Down Plans, and other internal capital models for firms not covered under the FCA's detailed prudential rules. We have a deep understanding of CRDIV/CRR and IPRU-INV. We are also able to help develop suitable Pillar 2 regulatory capital assessments. Our Consultants have worked closely with clients and the FCA to ensure that firms not only meet regulatory requirements but also operate in a capital efficient manner.
Risk, and Controls
Having a suitable Governance, Risk, and Control or “GRC” program is central to operating successfully as a regulated business.
Governance - we can work closely firms to establish a suitable governance structure as part of the licensing process or due to changes in the business for authorised firms.
We are able to work with regulated firms looking to review or revamp their governance structures as part of a variation of permissions or internal restructure. We also help structure documents such as terms of reference for the Board or committees such as the Risk Committee.
Risk - risk is at the heart of every business. The regulators understand that firms take risk in order to make rewards. However, regulators expect firms to have stringent risk systems and controls. On top of having a strong Internal Capital Adequacy Assessment Process (or similar depending on type of firm) and pillar 2 framework, firms are expected to have mechanisms in place to continuously identify, assess and measure risks and establish appetite for risk and monitor and report on risks internally to a Risk Committee or Board. We help firms create and implement practical and workable risk frameworks that are bespoke and help achieve risk objectives.
Controls - firms are required to establish and document controls in place to mitigate risks. These controls are then typically tested as part of an internal audit process. Controls play an important role in reducing inherent risks to acceptable residual levels within the risk appetite of a firm. We work closely with firms to identify and test controls and address deficiencies.
Regulated firms are required to report timely information to the FCA through the RegData system. We are able to track, prepare and submit these reports on your behalf to ensure that you never miss a RegData return, therefore avoiding a late submission penalty.
On top of working with clients, we are willing to explore strategic relationships with associate firms where we may add value to you or your clients. For example, you may want us to provide specialist skills on an authorisation project or perhaps provide support on GABRIEL reporting. Please do get in touch with us.