We have extensive knowledge of the FCA requirements and handbook sections and have created our products to ensure that these requirements are met. We have given some guidance below on FCA authorisation and how we can help with your compliance program.

The FCA Handbook and supplementing Sourcebooks can seem daunting at first and the new regulatory regime is certainly more complex than it’s predecessor, however once you get a firm understanding of the handbook, the FCA’s (and PRA’s) rules and the regulator’s expectations; you will appreciate the need and benefits of building a first class compliance program that will create a much more compliant environment within your firm than having seemingly pointless dictates and missives.

The easiest way to start preparation for FCA authorisation is to work out which of the handbook and sourcebook sections apply to your firm based on your business type (remember: not all of the FCA sections are rules for all firms). If you are an existing firm, you may want to map your territory in this way and we can assist you in this, having mapped the rules and legislation for banks and stockbrokers many times. Once you have this knowledge it will enable you to see which rules apply to you and then start to build policies and procedures to ensure that these rules are met and complied with.

There are many minimum regulatory requirements that are seen as the bare minimum expected of all firms, and then many additional rules that must be followed dependent on your business type and the products and/or services you offer. Ensure that you know who you Senior Management Functions are and that they have the adequate and relevant skills, knowledge and qualifications to fulfil their roles. Additionally, key members of staff will fall under the Certification Regime of the SMCR (effective from Dec 2019) and these will have to be assessed by your firm.

Below are some brochures on different types of firms and different activities,