FCA Authorisation for Firms
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“Looking To Get FCA Authorised Or Registered?”
Have you been asking yourself the question, “Do I need FCA authorisation?”
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Too Many Firms Fail Or Get Blacklisted Because Of Simple Mistakes
They Don’t Follow The Process Correctly Or Misunderstand The (complex) Rules
What is needed for FCA authorisation for firms?
Often, they have tried and failed due to poor preparation. The FCA crackdown on sloppy authorisations from 2021, not just restricted to the cryptocurrency markets, will require many firms to review their infrastructure, operations, and capacity to deal with increasingly strict standards, not limited to Anti-Money Laundering checks.
Whatever type of firm you are setting up, you will need someone as Compliance Oversight (SMF16) and/or Money Laundering Reporting Officer (SMF17). Do NOT waste your time and money unless you have someone who meets the FCA requirements. These requirements can be found HERE.
Payment Services Firms (PSD2) are experiencing exceptional scrutiny pre and post authorisation for not only Operational Risks, Data Security, Money Flow and Safeguarding Accounts, but also their Winding Down plans.
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?
Their Business Plan is too Flimsy & High Level
Failure to respond in a timely manner
Don’t complete a thorough Risk Assessment
Only have a few business risks listed from an internet search
Misunderstanding the Regulatory Environment
What Financial Crime means to their business
Incorrectly list shareholding and voting right
Are Not Sure What Training They Legally Have To Provide
Cannot recite the basics of Anti-Money Laundering and Counter Terrorism Funding
Don’t understand what is needed under the FCA Consumer Duty 4 areas or what the cross cutting rules are
What elements of the Senior Managers and Certification Regime (SMCR) impacts them
How to identify and measure Conduct Risks and who to then apply the FCA’s Code of Conduct rules
Knowing and assessing what business and compliance risks are within their firm and how to mitigate them
Cannot articulate their regulatory responsibilities or reporting requirements
Say Things That inflame the Regulator – Don’t forget, the regulator uses words and phrases different to common use English!
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.
The FCA are rejecting templated style businesses so your application needs to be authentic and unique.
This means that you will be required to do a lot of the work, but if you are not guided properly then you could be wasting your time.
So many consultancies 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 like policies and building your business plan.
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 the wrong answer – WHY?
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 below
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 never had one rejected due to our work. So we know how to help you get your FCA application right!
So, What Are The Benefits Of Our Service?
We make sure you have the right information, we;
EXPLAIN the authorisation timescales and events.
CREATE all the policies and logs you need for authorisation.
PROVIDE a FREE SERVICE to answer any queries before and after submission (if selected).
WORK with you to ensure you have all you need and none of what you don’t.
INFORM you on the ideal business plan contents and where to link it to the customer journey.
ASSESS and work with you to create the key “Annual Compliance Monitoring Plan”.
MAKE sure you understand the regulatory environment and what the FCA stands for.
STOP you from getting things wrong or misunderstanding things at this core stage.
HELP you identify, develop and mitigate the three main risk areas you need to demonstrate.
PROVIDE DETAILS for you on what the FCA are likely to ask you in the Senior Manager Interview
COACH you on the SIX MAIN areas of interview and the FIVE KEY PERSONAL areas you need to be prepared for.
How Do We Know You Can Do All This?
What We Are Offering You, For A Limited Time Only
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
- We provide all policies and required procedures, logs/registers you need to get authorisation (typically around 10-12) or upgrade the ones you already have.
- Risk Assessment
- We will work with you so you can develop the business risks you face in the three critical areas, and the four stage improvement and risk mitigation framework, so you will understand how they relate and can demonstrate you business then flows correctly and ultimately be compliant.
- Compliance Monitoring
- We will help you can develop the ‘Annual Compliance Monitoring Plan‘ including the 14 main regulatory areas and any monitoring “triggers” that are relevant to your business and help you understand how they relate to the FCA requirements so you can manage the business without interruption. Including our template
- 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.
- Covering 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. Our PDF explains the approach.
You have seen the Google Reviews, You Know We Offer Value And Good Advice.
When you sign up, we also give you;
Training PDFs (Anti-Bribery & Corruption, Regulatory Complaints Management, FCA Conduct Risk, Responsibilities of the MLRO the Senior Managers & Certification Regime explained) (a £1,860 value!).
We provide you with a PDF of a course sold on Udemy “Digital onboarding”; contains things you need to know to design your app, website or portal. (a £230 value!).
A 147 slide PDF explaining what conflicts of interest are, and how to manage them effectively. (A £1,500 value) with Optional SPECIAL SHORT TIME PERIOD ONLY Discount – for ONLY £500 – Or see Special Offer.
So in short, we provide you with a stack of value
(A £3,500 value) Collate additional documentation. Making sure we have everything the FCA expect.
(£500 value) Provide a Business Plan Template Guide – giving you the key areas to explain
(A £2,100 value) Personnel Material. Making sure that there are no questions lurking in the detail.
(A £3,590 Value) Training Material on Critical Knowledge Areas. Making you fully aware of the key areas for authorisation success.
(Up to a £6,500 value) Governance – Policies & Procedures. Making your business compliant and effectively run.
(up to £1,850 value) Work with you on your Customer Journey & Mapping, providing explanations and descriptions of the flow of required items.
(up to a £2,650 value) Compliance Monitoring. To help you show your understanding of the Regulatory Compliance expectation as an ongoing activity.
(up to a £3,450 value) Consumer Duty Instruction. To help you show your understanding of the four categories initially and as an ongoing activity.
(Up to a £3,700 value) Q&A Facility. Providing you with answers and explanations on your questions and the FCA challenges post submission.
(£700 value) Form Completion. Making sure there are no out of context words, setting the FCA hares running!
(Up to a £300 value) Upload Your Application. Our knowledge and understanding of the FCA Connect system makes sure you get everything uploaded right!
(A £1,800 value) Post Submission Senior Management Interview PDF. Helping you understand as an FCA authorised person what you are likely to be questioned on and the areas you may need to brush up on.
(A £1,300 value) SPECIAL SHORT TIME PERIOD ONLY – Training PDF of “Conflicts of Interest”.
If this package is taken in the next 28 days, you get this free!
Optional Extra – We will arrange, specific to your business type, for your Financial Projections, &
P&L from Certified Accountants for only an additional £2,900!
Optional Extra – We will arrange, specific to your business type, a Senior Management Interview Coaching Course (2 days) where a
qualified lawyer takes you through the expected questions of the FCA interview. See HERE for details. Price on request.
PLUS! See Our Guarantees Below!
A Potential Grand Total of over £31,000!
We Are Giving This Away TODAY
£30,000, £25,000 20,000, FROM £13,800 FIXED price!*
*Maximum cost for SMEs up to 4 people. Banks/Retail deposit takers/Insurance undertakings POA.
That’s Over 57% Discount … Available for a short time only
(may be removed at any time after 31st December 2023)
Ask For Our Payment Plan Options On The Call You Will Book Later.
But Hurry, we cannot hold the price this low for much longer!
** WARNING** Buy Before The End Of December 2023 & Avoid A Price Hike!
Our Guarantees To You!
- FULL Refund of any Deposit if we cannot assist you, or Cannot Agree A Fixed Price – Guaranteed!
- We Will Never Share Your Data! – Guaranteed!
- We Won’t Tell Others (Unless You Allow Us To)! – Guaranteed!
- Priority Access Throughout The Process! – Guaranteed
- After Using Our Training Material Your Business Will Be Stronger And More Compliant Because You Will Be Learning From Experienced & Qualified Persons – Guaranteed!
“Don’t forget to ask about the payment plans on the call you can book after the questionnaire.”
Lee Werrell Chartered FCSI FF.ASP, Founder of Compliance Consultant
Plus the bonuses above and Plus Our Guarantees To You – But Hurry – These offers Could Be Removed At Any Time Before The End Of December 2023!
THIS IS FOR A LIMITED TIME ONLY!