We are a furniture company in London, we are currently applying for our licence to offer finance to our customers. We need some help with a few parts of the new lengthy application for FCA licence. The parts we will need done or help with are:
1. Compliance Monitoring Programme
The Applicant must establish, maintain and carry out a programme of actions to check that it complies and continues to comply with its compliance procedures. This is called a compliance monitoring programme, which must be sent with this [url removed, login to view] is an example of one in the guidance notes.
The compliance monitoring programme must be relevant to the regulated activities the Applicant wishes to carry on and to its business, so the compliance monitoring programme must be tailored to the Applicant's business.
A compliance monitoring programme must describe the actions the holder of the compliance oversight function and their staff will take to ensure the Applicant complies with the FCA’s rules and guidance at all times, in particular:
what checks will take place
how often the checks will take place, as appropriate to the procedure being checked – this might be daily, weekly, monthly, quarterly, annually or another period specified by the FCA;
who will carry out the checks – this is the role of the person who will make the check, such as the Compliance Officer, Training and Competence Officer, Money Laundering Reporting Officer; and
what records of the checks will be kept to confirm they have taken place.
2. Financial Crime
You must briefly describe the procedures the Applicant has put in place to counter the risks that it might be used by third parties to further financial crime. This includes any offence involving:
fraud or dishonesty,
misconduct in, or misuse of information relating to, financial markets or
handling the proceeds of crime (SYSC 3.2.6 and 6.3) of the Handbook.
Please include the following:
the steps the Applicant will take to ensure its Money Laundering Reporting Officer (MLRO) knows their duties and is able to perform their controlled function effectively;
the procedures that will be in place to ensure that the Applicant will obtain sufficient evidence of the identity of and undertake all necessary due diligence exercises in relation all its clients;
the systems and controls that will be in place to ensure that know your business information (see SYSC 3.2.6 and 6.3) is made available to the applicant firm’s MLRO;
the anti-money laundering training the Applicant will provide for all its relevant staff; and
the disciplinary procedures for any member of staff who fails to report promptly to the MLRO any suspicions or belief that money laundering is occurring.
3. Regulatory business plan
1. I am a Legal Consultant with KPMG and have helped quite a few UK firms swiftly meet FCA Compliance. 2. I want to share my past work with you. 3. My bid price is for both the tasks.
9 freelancers are bidding on average £367 for this job
Hello I am a CA, ACCA and MS in Business Management I am an experienced professional and ready to help you in obtaining the FCA license we need to discuss this Thanks