FMCA licensing assistance
Strategi has developed significant expertise in assisting licence applicants to apply for their FMCA licence particularly in regard to DIMS, MIS, and Derivatives Issuer. This expertise and experience means we can now also assist applicants with both transitional and full financial advice provider (FAP) licence applications We can work directly with applicants, or in conjunction with the applicant's other advisers to provide components of a licence application.
Strategi can assist adviser businesses, QFEs and networks prepare their application in two ways. The most comprehensive way is where Strategi drafts the entire document and the applicant checks it. The second is where the applicant drafts the application documents and Strategi provides input, guidance and enhancements (where needed) to the documents and processes.
Strategi has standard templates plus can customise or develop bespoke solutions designed to speed up and reduce the cost of the licence application development.
Many FMCA licensees also use Strategi for the ongoing provision of:
- On-going licence compliance services including ‘third line of defence’ compliance assurance
- Development and maintenance of a training programme for licensee directors, managers, and staff.
- Specific training and ongoing support of licensee compliance managers.
- AML/CFT audits.
- An annual board report on the compliance status of the business, plus if necessary a remediation plan, a report on what additional risks need to be considered and how these can be mitigated, and the changes that have occurred to the regulatory environment in which the business operates.
- Development and annual review of the business risk management framework.
- Development and annual review of the governance framework.
- Development and annual review of the compliance assurance programme.
- Provision of classroom and electronic refresher training of licence obligations to ensure directors, managers and staff have the knowledge competency and skill to perform their roles. Online training is provided via the Strategi Institute online education portal Radar, with over 300 CPD modules on a wide range of relevant topics. Businesses can also upload to Radar their own internal training material.
- External reviews relating to how a business is meeting the suitability requirements and ensuring that client’s interests are placed first.
- Development of client facing documents such as Service Disclosure Statements, Investment Proposals and Investment Authority.
- Human resources and other policy templates as may be required.
Contact us for a quote relating to your application.