FCA Regulatory Compliance Advisor-FCA regulatory compliance guidance

Example

A financial firm seeking to understand its obligations under the Senior Managers and Certification Regime (SM&CR) can ask for specific clause references. The Advisor could cite COCON 2.1, which outlines the conduct rules that apply to senior managers.

Scenario

A compliance officer of a mid-sized asset management company wants to ensure their senior management complies with SM&CR requirements. They ask about responsibilities under the regime, and the Advisor provides a breakdown of the relevant clauses, such as SYSC 24.3.1R.

Example

If a firm has concerns about whether their complaint handling procedures meet FCA standards, the Advisor can highlight possible non-compliance by referring to DISP 1.4.1R, which covers complaints handling requirements.

Scenario

A retail banking firm is unsure whether their complaints resolution process is compliant with FCA rules. They ask the Advisor for guidance, which points out key areas of concern in their current approach, referencing DISP 1.3.1R, which requires firms to deal with complaints fairly and promptly.

Example

The Advisor can provide tailored information for specific sectors, such as mortgage lenders or insurance intermediaries. For mortgage lenders, it might reference MCOB (Mortgage Conduct of Business) rules to clarify a query.

Scenario

A mortgage broker wants to ensure their initial disclosure documents comply with FCA requirements. The Advisor references MCOB 4.4.1R to explain the information that must be included to meet regulatory standards.