Author Archives: Informer

Claims management companies (CMCs) and FCA Authorisation

Claims management companies (CMCs), known in the financial services compliance business as “Ambulance Chasers” will must summon a lot more than ₤ 7m next year to set up a compliant scheme to adequately satisfy the regulator the sector, the Financial Conduct Authority (FCA) has revealed. The sum to be paid in 2019-20, if accurate, is […]

Fee Proposals – Honest & Transparent

We recognise that value for money is a pre-requisite for all business expenditure. Professional fees are no exception. We have the following values, to which we adhere; Fairness – we don’t judge Sound recommendations (with evidence to support) Long Term plans/strategy Excellence in Primary & Remedial care Serving you as an individual and respecting your […]

Can You Or Your Firm Really Afford Generic Ongoing Compliance Support?

Compliance is an ambivalent function. On the one hand you are considered as the regulators’ ally inside the investment firm; overseeing the implementation of their regulation. Conversely, you are paid by the investment company and part of their culture and hierarchy. You might say ‘front office’ (traders making the money) looks at compliance the way […]

Effective Management Information for Conduct Risk

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The conception of “conduct risk” has risen to the top of firms’ and regulators’ agendas recently. In the UK, the FCA expects conduct risk management as being embedded into firms’ risk management frameworks, promoted by proper management information (MI). Building on ongoing regulatory and supervisory requirements and our knowledge of what works well in practice […]

Updated FCA proposals on operational and security risk management by Payment Services Providers (PSPs)

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In March 2018, the FCA produced its consultation paper (CP18/6) on its proposed approach to the implementation of the European Banking Authority’s (EBAs) final guidelines on security strategies for operational and security risks of payments services under PSD2. The Latest Approach document, Version 2, was released 19th December 2018 https://www.fca.org.uk/publication/finalised-guidance/fca-approach-to-payment-services-electronic-money-2017.pdf. On the whole, the documents […]

Claims Management Companies Need To Be FCA Regulated

Claims management companies (CMCs), known in the financial services compliance business as “Ambulance Chasers”must summon more than ₤ 7m next year to set up a compliant scheme to adequately satisfy the regulator the sector, the Financial Conduct Authority (FCA) has revealed. The sum to be paid in 2019-20, if accurate, is 42% of the total […]

Authorisation with the FCA: Magic Trick?

It might sound trite, to compare making an application for authorisation to a magic trick, Yet if you are under any impression that less-than-perfect preparation is good enough, take heed. Sarah Rapson, director of authorisations at the FCA said that, “We have begun to take a harder line on submissions that border on the vexatious.” […]

Can You Really Afford Generic Ongoing Compliance Support?

Compliance Consultants, London and Nationwide Compliance is an ambivalent function. On the one hand you are seen as the regulators’ ally inside the investment firm; overseeing the implementation of their regulation. Meanwhile, you are paid by the investment firm and part of their culture and hierarchy. You might say ‘front office’ (traders making the money) […]

Exactly how do I eventually become FCA authorised?

How do I come to be FCA authorised? You want to satisfy the Threshold Conditions, which are the FCA’s minimum standards for getting, and remaining, authorised; see below. The operation of applying for authorisation requires the appropriate completion and submission of particular recommended forms: An applicant for Part 4A Permission, other than in so far […]

The Best London FCA Authorisation Consultants Today – Authorised or Approved Persons?

What are FCA Authorised Persons and FCA Approved Persons? Authorised Persons ( applying section 31 of the Financial Services & Markets Act [FSMA] defines Authorised persons) as just one of the following: ( a) a person who has a Part 4A permission to carry on one or more regulated activities; ( b) an incoming EEA […]