The FCA and indeed the PRA are the gatekeepers for firms that need to enter the financial services sector and their brief is to make sure that all firms that achieve authorisation match or exceed the threshold conditions and firms that cannot achieve this are declined. The regulators need to be confident that these standards can and will be maintained. Both regulators have an extremely robust application process and the vast majority of firms in the current market seek professional assistance, which although this incurs consultancy fees may well be considerably less expensive and save hundreds of hours of management down time only to be invited to withdraw your application or worse still being declined.
One of our most frequent services is to work with firms to achieve authorisation, and we have provided advice and assistance both directly and remotely to over 2,000 firms since our inception in 1996. We are proud to boast that the majority of our consultants are sector specialists. They have worked in the same sector as the companies whom they provide consultancy services. They therefore can “wear your uniform” and design, prepare and submit the application pack which is unique to your firm, adequately describes what you do and avoids any inflammatory regulatory language. Our standard menu of application services includes the following:-
- A 1 hour complimentary discovery meeting
- The design of your individual application pack
- Assisting with the completion of the necessary forms
- Assisting with the writing (probably drafting the whole) free format documentation
- Working with your accountants to design cash flow forecast and Capital Adequacy calculations
- Complimentary broking of your professional indemnity insurance
- Joining you as joint contact so that we can respond to your case officer’s questions within one working day. (All responses are discussed with you for you to send to your case officer)
- Assisting, or drafting your compliance manual
- Assisting or drafting your anti-money-laundering manual
- Assisting or drafting your training and competence manual
- Post-authorisation training modules for directors and senior managers to enable these persons to thoroughly understand their regulatory responsibilities and how they fulfil these requirements
The above list is not exhaustive and we are always delighted to work with firms so that we can design an entirely complementary service that matches your own strengths.
For a complimentary and confidential conversation, please telephone 0345 612 1211 or firstname.lastname@example.org.