Why should I consider using a compliance consultant?
A firm does not have to engage an external person to provide assistance, but we find that many firms benefit from the experience we bring and our ability to focus on the impact of regulation, particularly as it changes over time. Having our assistance enables firms to focus on the service they provide to their clients safe in the knowledge that their procedures are up to date.
How do I go about choosing one?
In financial services the best way to find a professional is through personal recommendation and it’s no different when it comes to finding a compliance consultant. Some of the firms we work with are quoted in this website and please contact them to find out what they think. We will be pleased to introduce you to more or alternate clients if you prefer.
The FCA has provided guidance on using a compliance consultant, and their suggestions are found on the FCA’s own website (factsheet reference SFDFS014 – 08/1). In summary, they suggest firms consider four key areas:
- The level of support required
- Appointing and monitoring arrangements
- The services, skills and competence required
- Acting on their recommendations.
Please contact us for further information.