Compliance Advice for Boards January 30, 2009
Posted by Simon Webber in collective investment schemes, compliance training, management systems and controls, strategic compliance, styperson pope, training and competence, Uncategorized.Tags: authorised, cf10, cf11, cobs, coll, collective investment scheme, collective investment scheme order, collective investment scheme rules, compliance advice, compliance advisor, compliance awareness, compliance consultancy, compliance consultant, compliance director, compliance interim, compliance manager, compliance officer, compliance report, compliance review, compliance strategy, conduct of business rules, financial services authority, fsa authorisation, fsa authorised, fsa authorised firm, fsa capital requirement, fsa compliance, fsa regulated, fsa regulation, fsa reporting, fsma, head of compliance, icaap, interim compliance, interim compliance officer, know your customer, kyc, mlr 2003, mlr 2007, regulated activity, regulated environment, regulatory advice, simon webber, stypersonpope, sysc, systems and controls, t&c, tcf, treating customers fairly, Uncategorized
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It is vital to the devlelopment of any regulated business that the Board is well advised on compliance and that the advice is strategic, not reactive. It is unlikely that smaller Corporate Finance, Private Equity and Collective Investment firms will need to have a full time team member to advise on or oversee compliance and that is why they should look to an advisor who can be on hand when (and only when) required.
Examples of recent strategic advice to Boards includes:
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Establishing a division, in a new business area, under new FSA rules
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Effecting variations of permissions to cut costs and increase scope
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Performing strategic assesments of risk (including ICAAP)
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Creating business procedures for new and existing businesses
If you would like to discuss any aspects of strategic compliance advice, please do call or e-mail us.
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