Silver – FCA Authorisation or Registration Package

Applicant Firm’s Senior Managers or owners often have telephone interviews, but they fail this test as they are unprepared on what may be asked and why.

What Do Firms Get Wrong?

  1. Their Business Plan is too Flimsy & High Level

  2. Failure to respond in a timely manner

  3. Don’t complete a thorough Risk Assessment

  4. Misunderstanding the Regulatory Environment

  5. What Financial Crime means to their business

  6. Are Not Sure What Training They Legally Have To Provide

  7. The Basics of Anti-Money Laundering and Counter Terrorism Funding

  8. What elements of the Senior Managers and Certification Regime (SMCR) impacts them

  9. How to identify and measure Conduct Risks and who to then apply the FCA’s Code of Conduct rules

  10. Knowing and assessing what business and compliance risks are within their firm and how to mitigate them

  11. Say Things That inflame the Regulator – Don’t forget, the regulator uses words and phrases different to common use English!

  12. Submitting generic compliance procedure documents and a generic compliance monitoring programme showing lack of originality.

So How Do You Deal With All These Challenges?

You can find a consultancy (there are many) who will charge you for their services.

So many websites will tell you what to get ready, what the FCA will want to see and all the elements needed to make an application.

Some will charge a small amount and then add on every extra part you need. 

Some will charge you a lot and take over your business, creating their style of what “they think” you need.

Sounds Good, doesn’t it? Er…. “Yes” is again the wrong answerWHY?

When you get to any interview, you won’t understand what has been created for you, and you won’t be able to express how your business works, according to the Business Plan. 

What you say in words, in text on the application may tick all the boxes, but if you haven’t been engaged in the process, if you don’t understand how it all fits together, you will sound false and your credibility will drain away.

The upshot of just getting a “completions” service is that YOU CAN STILL FAIL at many points, or get rejected, despite having EVERYTHING CORRECTLY COMPLETED if you are not ready, willing and organised. That is why we are different and how we explode your chances of authorisation, off the scale!


What Makes Us Different?

Collectively, although small, we have well over 120 years compliance experience.

Nobody works for us without having at least 5 years regulatory compliance experience and has to be qualified to at least Level IV in compliance or a related discipline. Some of our consultants are qualified under the Chartered Insurance Institute (CII), and some are qualified under the Chartered Institute for Securities & Investments (CISI). Our owner is a Chartered Fellow of the CISI (Chartered FCSI). You can see our Google reviews here.

 

Our first authorisation project was in early 2008, when we set up an African sponsored Bank. Since then we have conducted numerous authorisation and registration applications. We have not had one rejected due to our work. So we know how to help you get your FCA application right! 


If you have a thorough, detailed and robust Regulatory Business Plan costs start at around £9,500 for an authorisation or registration. The typical costs for small businesses range from the £9,500 to £15,000 depending on the complexity of the business.  
This consists of at least 50% up front and the remainder split on submission and authorisation, or alternatively followed by 6 x regular monthly payments.
We will provide the normal policy documents and the template compliance monitoring procedures as required and requested by the regulator for THIS ALL INCLUSIVE PRICE.
FCA Costs can be found at https://www.fca.org.uk/firms/authorisation/fee and this is extra to our charges.
If you want us to amend and personalise any additional template policies, we can do this as well for an additional cost, but, as with all governance, the final edit will be down to you, as it is your business that will be governed by these documents, and you need to make sure they are all singing the same tune.
We have recently started asking for reviews on Google. If you Google, “Compliance Consultants, London”, we normally come at the top of the listing and have 5* reviews from happy clients. Just – go here https://fca-compliance-consultant-risk-management.business.site/, scroll down below the pictures and see the reviews. Or see below;

So, What Are The Benefits Of Our SILVER Service?

Obviously All of the BRONZE Service is Included

We make sure you have the right information, we;

  1. EXPLAIN the authorisation timescales and events.

  2. CREATE any additional policies and logs you need for authorisation and review your existing ones

  3. PROVIDE a FREE SERVICE to answer any queries before and after submission.

  4. WORK with you to ensure you have all you need and none of what you don’t.

  5. ASSESS and work with you to create the key “Annual Compliance Monitoring Plan”.

  6. STOP you from getting things wrong or misunderstanding things at this core stage.

  7. HELP you identify, develop and mitigate the three main risk areas you need to demonstrate.

  8. UPLOAD your documents onto the Connect System

BUT WHAT WE DON’T DO IS – COACH you on the SIX MAIN areas of interview and the FIVE KEY PERSONAL areas you need to be prepared for or provide discounted training options.

FOR OUR GOLD <click the link> FCA AUTHORISATION

OR REGISTRATION PACKAGE

What We Are Offering You, For A Limited Time Only

All prices are excluding VAT unless stated.

We are the best reviewed compliance consultancy on Google here.  <click the link> See our website for a slideshow or click on the link above.

  • Additional Documentation for Supporting The Business Plan

    • Collation of all the extra document needed for the application to be complete, we will project manage the process for you, or deal with your internal project/compliance manager to ensure everything is obtained.

  • Personnel Material

    • We collate and assess the CVs of all concerned. A simple CV covering the last 10 years with name of employer, job title, dates you worked there (from and to) and list of your responsibilities at the firm is fine. Include all qualifications and professional courses attended as this will help demonstrate your competence and capability.

  • Training Material on Introduction to FCA Regulation, FCA Code of Conduct (COCON) Financial Crime and Digital Client Onboarding Training.

    • We provide you with PDFs of genuine and contemporary PowerPoint Slides for your own instruction. These are slides used in our normal training sessions.  Further Training Material available for purchase at discounted rate.

  • Governance – Policies & Procedures

    • All policies and required procedures, logs/registers you need to get authorisation (typically around 10-12) or upgrade the ones you already have.

  • Q&A Facility

    • So often when a new authorisation or registration is required, there are many areas that you may not fully understand, as well as the regulator wording being a cross between English, legislation and regulation. We solve that issue by providing an email response service, so not only do we answer your query, but you have it in writing to explain to your team if necessary.

  • Form Completion

    • A common mistake is using out of date forms or the wrong forms for your sector. We obtain the correct forms and complete them with your information and make sure that any text explanations do not confuse or irritate the regulator, as explained above.

  • Upload Your Application

    • Uploading the application can be a nightmare when using the FCA Connect system. We upload and keep a copy of the documents provided.

  • Post Submission Senior Management Training – What to expect on a telephone interview.

    • Final workshop is up to 1 hour on the 6 main areas of an FCA interview and the 5 key personal areas as an FCA authorised person, you need to be prepared for.

 

We will provide you with “Letter of Engagement” or “proposal” spelling out what we will do for you included in the fixed price & our “Terms of Business” before you commit to anything.
If you have any further queries, please contact us directly for a discussion with our owner. As we know your time is precious, please go to https://calendly.com/compliancedoctor to arrange a suitable time for us to discuss your needs.
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Kind Regards
Success Team
Compliance Consultant