Compliance Retainer

Our clients often prefer a ‘Compliance Retainer’ as method of support, rather than the ‘services paid by the hour’ approach. The Retainer ensures the client is entirely comfortable to contact us with compliance questions, issues or regulatory concerns without the fear of incurring escalating consultancy fees.

The formal structure of the Retainer we provide is explained in more detail in the following:

• Initial meeting to allow Complyport consultants to fully understand your business.
• If not already in place, the creation of an appropriate Compliance Framework for the client, including the requisite compliance files, formal registers, undertakings, documents, proformas, reporting schedules etc.
• Visit the client’s premises to implement the above framework;
• Ensure both the Compliance Manual and Compliance Monitoring Programme (CMP) remain up to date and specific to the client’s business – if not re-write or replace.
• Provision of comprehensive training in the compliance framework, compliance procedural matters and the application of the CMP;
• Quarterly (or less frequent if requested) formal reviews of compliance monitoring and records at the client’ premises, followed by a formal report to the Board.
• Unlimited telephone and e-mail support (additional visits if deemed appropriate) to address questions, issues or problems; without the concern of incurring additional consultancy fees, or waiting until we next visit the client’s premises.
• Support with FSA forms, notifications and returns – for instance, Complyport would prepare and process the FSA forms and reports necessary for new employees, close links, controllers, fee-exemptions and changes in control, also variations of permission or other FSA-clearance events.
• We would also advise the client in relation to 'Best Approach' to the FSA.
• Review from a regulatory sense, the quarterly and annual financial returns, where applicable.
• Provide anti-money laundering training for the relevant staff members as suggested by the FSA's SYSC Rule Book.
• Circulate periodic updates, including our newsletter, “Compliance Matters” relating to regulatory issues that are relevant to the client.
• In the event the FSA announce a visit to the client’s offices, we will visit beforehand to assist with last minute ‘house-keeping’. We can also be in attendance for the FSA visit.

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