Policy and Procedural Manuals

Although the new regulatory requirements are much less prescriptive than was once the case, this provides compliance managers and those with oversight of compliance within firms with more problems as they have fewer rules to follow when writing procedures. Many financial services staff do not read their policy manuals, are not aware of corporate policies and procedures and the lack of a Compliance manual has been identified in a number of enforcement notices. 

Whilst in a lot of the key areas there is no formal requirement for procedural manuals, there is a bigger burden on a firm to demonstrate internal control of risks. The simplest way of demonstrating this is to use internal procedural manuals for all staff. We have a range of procedural manuals, ranging from £250 each. This is also the easiest way to train staff on the firm’s procedures as they can read the manual and a test can be conducted to validate their understanding.

Examples of manuals and procedures we can provide include:

• Compliance manual;
• Training & Competence scheme;
• Registered Individual procedures;
• Anti money laundering and financial crime;
• Complaints procedures;
• Financial Promotions;
• Treating Customers Fairly (TCF);
• Data Protection Act;
• Conflicts of Interest;
• Malpractice reporting policy (whistle-blowing).

While these manuals are available on a standalone basis, we prefer to tailor make the documents for each firm to ensure they fit in with their working practices. We will work with the key staff to build bespoke documents.

Please contact us for further information.