The Problem

Across a range of sectors, FCA regulated firms face particular challenges in meeting often complex and rapidly changing regulatory requirements.

Smaller firms often struggle to cope adequately with the demands of the Compliance role. Ideally they would benefit from outsourcing compliance, but the FCA and other regulators will not tolerate the delegation of responsibility for adequate compliance.

Such firms need a resource to whom they can turn for cost-effective advice, guidance and hands-on support.

Larger and medium sized firms often have a Compliance team but such teams often struggle to stay up to date with developing regulatory requirements and/or lack the specialist knowledge or skills to deal with certain more specialist areas of regulation.

They need a cost-effective point of reference and trusted adviser to whom they can turn in such situations.

The Solution

Complyport’s Front Line Compliance service can provide the solution for both smaller, medium and larger sized firms.

Comlyport can do the heavy lifting whilst the firm remains responsible for customer outcomes and control its own culture and standards unique to its client proposition.

Outsourcing elements of the Compliance function can have cost and other benefits, eg:

  • Avoids recruiting hard to find specialists (reducing cost, time and keyperson risk)
  • Releases the firm’s staff to do what they do best
  • Avoids paying for under-utilised staff during dips in demand
  • Provides an independent check on quality

Complyport’s Front Line Compliance Solution

Our Front Line solution is tailored to what you need and want to pay for.

To control costs we are able to work remotely with most firms across a range of services.

Recurring retained services may include:

  • File and case selection
  • Suitability Reviews
  • Process reviews against rulebook standards
  • Adviser support (including feedback and coaching)
  • Financial Promotion Reviews
  • Broader support and advice on the firm’s monitoring program
  • Delegated monitoring

One-Off Project work may include:

  • Support in developing and improving client services including supporting functions
  • Help with structuring remedial work
  • Due diligence advice (from product selection to business merger or acquisition)

The Result

A cost-effective, bespoke service, providing access to qualified staff when needed while avoiding recruitment costs and risks associated with key staff leaving.

Complyport’s service is tailored to meet gaps is existing structures and to deal with peaks and troughs in demand.

It provides an independent view and potential challenge to poor practices, leading to improvement not simply in quality of advice but also in processes, systems and controls.

What does it cost?

Fees for the service are based on the complexity of the assignment and the amount of work involved.

We will provide a bespoke assessment of cost for each assignment.

Why not Contact us on +44 (0)20 7399 4980 today to find out more?