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Compliance Advice for FCA Compliance Manuals
Haven’t got time to write compliance manuals?
Want a compliance manual that reflects your business model?
Not sure if your compliance manuals meet FCA requirements?
Need someone to review your compliance policies and procedures?
Need a compliance manual or compliance policies and compliance procedures for your business?
If you are looking for FCA compliance manuals, compliance policies and compliance procedures for your business, at complianceadvice.co.uk we can help with:
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Reviewing your compliance policies and procedures to make sure they are fit for purpose
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Designing compliance policies and procedures to fit your business needs
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Implementing compliance policy and procedure across your business
We create bespoke compliance management systems.
EXPERTISE
Successfully guiding you through the regulatory process with a dedicated team of experienced compliance consultants
STRATEGY
Navigating a clear and strategic path through the complex regulatory requirements with insight and firm analysis.
MONITORING
All FCA compliant companies are obliged to monitor the latest standards and stay up to date.
Compliance Advice for FCA Compliance Manuals
FCA regulated firms are required to design and implement policies and procedures, systems and controls proportionate to the nature, scale and activities of their business. For many SME FCA regulated firms this presents a real challenge. Often small FCA regulated firms don’t have dedicated compliance functions and, if they do, resources tend to be stretched. In the past, small and medium size FCA regulated businesses looked to compliance consultancy firms to help with compliance policies, procedures, systems and controls and often ended up purchasing off the shelf compliance manuals.
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What’s the problem with an off the shelf compliance manual?
Purchasing off the shelf compliance manuals can be a cheap way of “ticking a compliance box” but the reality is that businesses often end up with a compliance manual which doesn’t reflect their business model, business practices or business processes. A compliance manual then becomes a rather lengthy irrelevant document that gathers dust on the shelf or in the cloud and is used to perform lip service to the regulator.
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When a problem arises, which inevitably happens in all businesses, and the manual gets a dust off, businesses find themselves frustrated that the information and guidance isn’t relevant to them.
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A much bigger problem is that the FCA does not like the ‘one size fits all’ approach to compliance policy and procedure. At complianceadvice.co.uk we’ve heard numerous reports of FCA negative feedback to regulated firms supplying off the shelf compliance manuals as part of authorisation applications.
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It makes good business sense to design and implement policies and procedures that fit your business. These will help your business achieve profitable, compliant business that improve outcomes for customers.
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Good outcomes = happy customers = profitable business = happy regulator.
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At complianceadvice.co.uk we’ll help you to get it right first time!
Contact us today for advice and guidance on your FCA compliance manuals, policies and procedures.