Support Services
For small and medium-sized regulated firms, the cost of compliance can be a huge burden, relative to their size. Our support services have, therefore, been designed to reduce the regulatory cost of these firms without compromising their on-going compliance with their regulatory responsibilities.
On-going compliance support
Our on-going compliance support services seeks to reduce the burden of regulation and compliance on small and medium sized rm that are unable to devote the same level of resources to compliance and regulation as a large firm. For these firms, we offer our “Basic service” which includes monthly tailored regulatory updates with up to 5 hours per quarter consultancy support and assistance for a at fee, with additional support available on an hourly basis if required. The inclusive hours can be used for any purpose; typically this might extend to liaising with the FCA on the client’s behalf, preparing and arranging submission of regulatory returns, or undertaking an element of compliance monitoring, as well as dealing with miscellaneous queries as they arise.
Interim Compliance Assistance
We can place one of our experienced consultant on secondment to either act as a rm’s interim Compliance Officer pending the time a suitable replacement is appointed. Alternatively, if required we can provide additional temporary compliance assistance to work on a specific project e.g. to implement a new regulatory rule or requirement.
For other requirements we can tailor a package of on going support services according to clients’ needs. One of the benefits of our support packages is that we update you of particular regulatory developments and of the possible impact(s) for your business, and help you address any issues that arise quickly and effectively.
- Example of a recent support engagement: Our client, a UK wholesale bank required, at short notice, an interim Compliance Officer and MLRO to act as the rm’s Compliance Officer and MLRO pending the time a suitable permanent replacement was found. We seconded one of our experienced consultants to the bank for a period of 6 months.
Get in touch
We usually respond within 24 hours