What can I do when logged in?

You can submit new articles, so we can make unique versions of them and distribute them for you.
If you want to simply publish the same article on 800 websites, you can tell us to do that.
You can see the archive and current status of all your article distributions.
You can order any number of high-quality articles - just let us know your keywords.
You can browse the archive of all the articles we have written for you.
You can order our Complete Service (10 high-quality articles plus 10 article distributions).
You can purchase more credits for our services and check your affiliate earnings.
Much more ...

SpinDistribute.com Article Directory

The following article was published in our article directory on June 28, 2018.
Learn more about SpinDistribute Article Distribution System.

Can You Really Afford Generic Ongoing Compliance Support?

Article Category: Advice

Author Name: Lee Werrell

Compliance is an ambivalent function. On the one hand you are considered as the regulators' ally inside the investment company; overseeing the implementation of their regulation. On the other hand, you are paid by the investment firm and a part of their culture and hierarchy. You might say 'front office' (traders making the money) sees compliance the way compliance successively sees the regulators.

The problem with most companies, whether they be IFAs, Stockbrokers, Payment Services or whatever sector, is that the Compliance Officer is treated unfairly, if they are running the compliance function as a component of their job. Whether they are advising, trading or operate the financial side of the business, unlike 10 or perhaps 5 years ago, there is way too much to get done, to gratify the needs of the regulatory authorities.

Obviously there are 5 main options;
You can continue as normal and let things get slowly further and further behind; not a great option, running the gauntlet of "not" being visited.
You can devote more time to the compliance element, rejig the annual compliance monitoring plan and enlist others in order to help; but you will have to supervise their efforts and if they are not "compliance" people, it may be even more work than you save.
Engage one of the many consultancies that are either big 5 or quasi big 5, made successful by all the mis-selling of days gone by and not necessarily focused on your form of business. These guys usually want a big chunk of profits for being "available" and provide ongoing support.
You can recruit a compliance manager (or team) to undertake the main bodies of work required, and have regular meetings to ensure they are staying on top of everything. This is expensive with all the rights of employees and the additional benefits.
The final option is to engage with a particular niche consultancy that only provided experienced and qualified consultants in order to help you fit in all the compliance duties and continue your day job. Not the cheapest option, but a scholar would never confuse cost with price.

The regulator's business plan for 2018 has created a raft of focused areas for the remainder of 2018 and start of 2019. From the FCA Handbook there are a variety of hotspots and they are determined to use their powers under the FSMA 2000 to progress, investigate and enforce where necessary. Whatever FCA Regulated Activities you have permissions for, I am sure you will see that there is something for everyone.

The following list identifies the regulators cross-sector priorities to be addressed over the coming few months:

• Firms' culture and governance
• Tackling Financial crime (fraud & scams) & anti-money laundering (AML).
• Data security, resilience and outsourcing.
• Innovation, big data, technology and competition.
• Treatment of existing customers.
• Long-term savings, pensions and intergenerational differences.
• High cost credit.
• Wholesale financial markets.
• Investment Management.

As a part of the FCA's ongoing programme of work they continue to mitigate harm from firms selling Contracts for Difference (CFDs) and spread bets to retail customers who often do not understand the risks of these complicated, leveraged instruments.

They are also focused on binary options, which came into the FCA's regime from January 2018. Their work involves a coordinated programme of policy and supervisory activity. In 2018, they will evaluate how well their interventions have worked and act where firms cannot meet expectations.

The FCA support the European Securities and Markets Authority's (ESMA) agreed EU-wide temporary product intervention measures announced 27th March 2018. These include the prohibition of the marketing, distribution or sale of binary options to retail clients and a variety of limitations on the marketing, distribution or sale of CFDs to retail clients, including rolling spot forex. The FCA expect to consult on whether to apply the ESMA measures on a permanent basis to firms offering CFDs and binary options to retail customers.

The importance of self-governance and accountability: this is shown in the extension of the Senior Managers and Certification Regime (SM&CR) to all regulated firms, incorporating dual regulated insurers. The FCA's policy statement and new rules will be published in the summer of 2018 and the SM&CR will be extended to insurers on 10 December 2018.

So there is a huge raft of work happening and that is quite apart from the changes to the FCA Handbook after MiFID II, and your very own monitoring plan, that we calculate for most firms includes over 60 varied activities, from governance reviews (several day's work in itself) through to whistleblowing and reporting (Gabriel returns anyone?), financial promotions and conflicts of interest through to KYC and Money Laundering and TCF, to name but a few.

With Liz Field of PIMFA joining with the FCA in encouraging advisers to whistleblow on "bad behaviour" within the profession in order to bring down the cost of the FSCS levy, all firms should ensure they have their house in order if they have enough time.

Compliance Consultant offers various support packages that can be managed on-site or remotely (being dependent on your needs), or a mixture of the two. Experienced and professionally qualified people that can be as flexible as you need, with the goal of providing you with the very best compliance function possible, with regular reports by email of the work they have planned, work that they have undertaken and any challenges identified along the road.

Compliance Consultant.
Making Compliance Work.

Keywords: fca, fca authorised person, fca handbook, fsma 2000, cf30 fca,cf10 fca

Learn more about SpinDistribute Article Distribution System. We also offer Professional Article Writing to everyone who's looking for high quality web content.

SpinDistribute.com Network

Each article you submit at SpinDistribute.com is sent through our innovative Article Distribution System to our network of more than 1840 publishers - about 55% of them are high-quality article directories, 30% of them are niche blogs and 15% of them are other content-rich websites.

To achieve the best possible success we only publish your article to most related websites. This means your article will show up on approximately 640 - 880 most related websites which will give you great SEO results.

We also offer a separate Professional Article Writing Service to everyone who's looking for high quality web content and well researched unique articles.