In a nutshell this includes anything which a compliance officer might be required to undertake in a normal day’s work. Often the Compliance Officer for a Firm is also an overstretched director and adviser who would prefer to outsource the general compliance requirements for their firm. This doesn’t mean abdicating responsibility for the compliance aspects, but rather having someone trusted in place to take on the daily, monthly, quarterly or annual requirements for the firm whilst retaining oversight for the role.
One area in particular where firms look for support from compliance consultants is in relation to file reviews – especially in trying to ensure that there is a reduced chance of complaints arising in the future. File reviews are a main area, where we try very much to highlight areas of weakness and show in pragmatic ways how they should be put right. Reports and guidance are always provided to firms to help demonstrate good practices.
Please contact us for further information.