Thames, London | Seven Compliance

Compliance Monitoring Plans

The FCA seems to be looking at the more subtle hints that suggest there may be something of interest to them in regulated firms. One of these is turnover of staff in significant roles and in particular the MLRO.

Firms should examine why certain roles have a high turnover and ensure this is not due to poor regulatory performance or activity that makes their MLRO or other regulated staff uncomfortable. The safe way is to make sure that the Compliance Monitoring Plan is a real audit of the Firm, is independent of management and is effective in identifying short falls. Criticisms and recommendations must be taken seriously and remedial action taken.

Seven Compliance LLP are experienced and effective in working hand in hand with firms to help them stay on the right regulatory path. Our monitoring plans work with our clients to help them examine their controls, to be compliant and provide them with assurance that they are not only compliant but are aware and prepared for any regulatory forthcoming change.