Compliance

 

 

Area Solutions Ltd provides a wide range of financial compliance services across banking and financial institutions. Our aim is to provide compliance advice and customized hands-on solutions.

Our services are designed to ensure operations in line with regulations and to facilitate productive communications with the Financial Conduct Authority (FCA).

 

 

 

Our services include:

• FCA authorisation

• Area Solutions Ltd can advise you on which activities require authorisation and assist you with both your application and setting up of procedures to ensure compliance with rules.

• According to your needs and requirements we will complete, submit and project manage your application to FCA, advise on controlled functions for key persons, review your completed application, create relevant documentation and liaise with FCA on your behalf.

• Regulatory advice

• Area Solutions Ltd provides appropriate and up-to-date advice on achieving compliance in a broad range of banking and financial services areas, including regulatory regime to your firm, FCA regulations, money laundering prevention, financial services directives, operational risk, training and competency.

• Compliance projects

• We implement, manage and resource compliance projects including money laundering identification, compliance manuals, customer classification, risk management, FCA authorisation, training and competence.

• Operational risk assessments

• FCA has set out requirements for firms to identify, assess and document their operational risk policy. Area Solutions Ltd will carry out an accurate risk assessment of your firm, highlight weaknesses in your systems and controls and document your operational risk policy.

• Health checks & independent compliance reports

• Thanks to our appropriate skills and industry knowledge, we can undertake an independent review of your firm’s compliance arrangements, provide you with a report identifying any problem areas or regulatory breaches, recommend appropriate solutions and implement them.

• Money laundering prevention

• Area Solutions Ltd will identify and implement the regulatory requirements that apply to your firm. Our money laundering prevention services include relevant money laundering prevention training, annual money laundering reports, money laundering prevention identification audits, client database risk assessments, identification of clients on a current and retrospective basis.

• Monitoring and internal procedures

• Area Solutions Ltd provides a flexible risk-based monitoring of your business activities, according to your requirements. We can either conduct monitoring on the firm’s behalf or provide a compliance monitoring programme that your firm can implement and operate under its own resources.

• Training and competence

• There are three key areas of training and competence that all firms need to consider, according to FCA: Assessing competence, Maintaining competence, Record keeping. Every firm has a basic commitment to ensure that its employees are competent for the work they do, appropriately supervised and regularly reviewed. We help our clients fulfil FCA's requirements, document their compliance and implement their training and competence programme.

• Outsourcing
  

• Area Solutions Ltd provide you with the compliance resources appropriate to your needs whenever you need them.