Disappointing results of FCA's review into principal firms: This week in regulation
This week we bring you details of the FCA's review of principal firms and the latest figures on forex and crypto scams.
Compliance Effectiveness
Managing regulatory risks can be complex and time consuming, we provide compliance effectiveness that ensures long-term sustainability.
Our commercially balanced and forward-looking compliance effectiveness solutions strengthen your compliance function for long-term sustainability.
Managing regulatory risk effectively can be complex and resource intensive. When combined with commercial drivers that are seeking to reduce operational costs, the risk to a sufficiently independent and challenging compliance function becomes pronounced.
FCA enforcement action continues to demonstrate to CF10s and their executive colleagues that they can, and will, be held personally responsible for any failures in systems and controls. The importance of an effective compliance function should therefore not be underestimated.
Acknowledging our clients’ commercial considerations, we not only address compliance function deficiencies but also identify process efficiencies. We embed a proactive forward-looking approach that ensures the compliance function can continually mould to regulatory change and your evolving business model and strategy.
How can we help?
TCC provides tailored compliance effectiveness solutions that strengthen your compliance function to ensure it provides effective support and challenge to the first line.
- Framework assessment – we measure and assess the effectiveness of business assurance undertaken by the first line, as well as review compliance function conduct oversight and challenge.
- Holistic review – we conduct an end-to-end review of the adequacy of systems and controls, and processes and procedures to identify gaps or deficiencies. Working collaboratively with you, we implement a plan of corrective action that manages and mitigates conduct risks and ensures delivery of the right customer outcomes in line with TCF principles.
- Ongoing support – ensure compliance arrangements keep pace with business growth and evolving regulatory expectations with regular compliance health checks and compliance audits.
Find out how we helped a firm strengthen their compliance processes and procedures with a Compliance Effectiveness Review
Read Case Study
Why partner with TCC?
- Experience – our experienced and knowledgeable consultants work with regulated firms across the retail financial services sector to identify, lead and support work programmes to improve risk-based compliance monitoring.
- Value – our approach is value-driven, seeking operational efficiencies freeing-up resources to be allocated where they are most needed.
- Partnership – we collaborate with your compliance function and commercial stakeholders to ensure a proportionate approach.
Speak to our experts
We can help develop a proactive, robust and effective compliance function that is in tune with your commercial drivers
