Financial Services

We help financial services firms obtain Financial Conduct Authority (FCA) authorisation.

Applications for Financial Conduct Authority (FCA) authorisation

  • Company secretarial support to incorporate your company.
  • Prepare your application pack and supporting documentation, including your compliance manual and monitoring programme.
  • Draft your business plan and financial projections.
  • Develop appropriate systems.
  • Be your main point of contact for the FCA and assist you in answering any questions raised by the FCA’s case officer.

In most cases, the FCA will authorise your business within six months of receiving a completed application, but this can double if your application is incomplete or inadequately prepared.

Internal Capital Adequacy Assessment Project (ICAAP)

  • What it is
    ICAAP identifies whether a firm’s capital resources are sufficient.
    ICAAP demonstrates to the FCA that the firm has considered the process.
  • Who it applies to
    In the UK, ICAAP applies to regulated firms who have a BIPRU Investment firm prudential category (ICAAP does not apply to MiFID-exempt or CAD-exempt firms).
  • What we do
    We can assist you in the preparation of this document for your firm’s specific risks, update your current ICAAP document, or simply review and comment on your document.

Compliance monitoring

As your business changes, you are obligated to keep the FCA up to date and to apply for approval where applicable. We can help you with:

  • changes in controllers/owners
  • variations of permission
  • applications for cross-border services passport
  • changes in personnel holding control functions
  • GABRIEL financial reporting, Connect applications and notifications review and update documents, including:
    • compliance manuals
    • compliance monitoring programme
    • business continuity plan
    • anti-money laundering reviews
  • Statutory audit

FCA compliance health checks

As a one-off project or on an annual basis, we can review your compliance arrangements, anti-money laundering processes and procedures, governance, systems and procedures against FCA requirements providing you with a written report and recommendations.

How we have helped: case studies

Full service solution

We worked with a successful US reinsurance broker which was in the process of establishing an insurance intermediary business in London with a small staff and some US secondees. We worked with the client to provide a full back office solution including payroll, international mobility services, management accounts, compliance outsourcing, tax and audit. We provided the client with one main point of contact and our assistance enabled the firm to concentrate its resources on building its business in the UK.

Anti-money laundering review

We assisted a UK Authorised Payment Institution with a review of its anti-money laundering systems and procedures. Our review included an assessment of the FCA and HMRC requirements against the firm’s business practices culminating in a written report of our findings together with recommendations.

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