TOP TIPS TO SURVIVE A REGULATORY INVESTIGATION

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TOP TIPS TO SURVIVE A REGULATORY INVESTIGATION
(from the FCA, CMA or alike)  
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• In the last months the FCA has assisted all
  regulated businesses also by adding further
  clarity to their intentions going forward.
• The FCA newly regulated Credit Consumer section
  has also added to this clarity with a set of
  improvements on their recommendations and adding
  a series of clarifications.
•  
• Further the FCA has also improved the online
  portals, easing and reducing the time for any
  request to be dealt with. But has enough been
  done? The headlines are still grabbed by
  sanctions in the millions imposed to companies
  for not having respected the regulatory
  framework.

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• In any regulated environment the detail of the
  rules applicable is often overwhelming. The FCA
  is no different.
• In addition the CMA (Competition and Market
  Authority) is also trying to analyses the
  evolution of the Financial regulation and the
  modus operandi of its key players, often
  recommending actions to be harmonized with the
  FCA recommendations.
• All in all things are getting better, though it
  may not feel like it.

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• The obstacle for us in building the FCA is to use
  the full range of our powers under the new legal
  guidelines to make FCA assistance work well, so
  that absolutely everyone can use the UK's
  financial services with renewed confidence.
• This is your chance to explore an exciting range
  of career prospects creating an environment
  encouraging of good conduct but where incentives
  and options for bad behavior are low and
  potential costs are higher.
•  

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Based on their experience they have found out the
following top tips to survive a regulatory
investigation.

•   1.    You define your business model with
  clarity and precision
• 2.    You stick to it in your daily business,
  in a consistent manner
• 3.    You are clear and not misleading in all
  your correspondence to your customers
• 4.    You are very clear on any fee you
  charge
• 5.    You have a reason for charging a fee
• 6.    You are prompt and accurate in dealing
  with the investigation
• 7.    You have clear and accessible
  guidelines for customer complaints and you obey
  by them
• 8.    You consider time of the essence      

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• FCA Assist has found that the Authority part of
  the FCA is often promoted and the Conduct part of
  it may be underestimated by regulated businesses.
  
• As Financial Conduct Authority FCA Assist
  communicate daily with the FCA and CMA and assist
  regulated businesses when dealing with
  investigations assisting them presenting and
  compiling all relevant files for submission and
  liaising with the authorities on their behalf.

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For More information Visit us

• Company Name FCA Assist
• Address 113a Jermyn Street
• St James,
• London
• SW1Y 6HJ
• ENGLAND.
• Phone [phone]
• Email contactus_at_fcaassist.co.uk

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THANK YOU