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Compliance Review Services

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Are you meeting regulatory obligations and adhering to best market practice? 

Periodic testing of your firm’s governance and control arrangements, as well as its policies and procedures, is essential to help avoid the cost and reputational risk of future scrutiny and potential enforcement. Recent compliance reviews carried out by ACA Compliance Group on financial markets firms identified, on average, 24 different regulatory failings or weaknesses across a firm's governance and control environment, including policies and procedures. 

ACA's suite of Compliance Review Services lets you know if your firm’s arrangements are operating as expected and are meeting regulatory requirements and best practices. When we identify weaknesses or failings, our compliance review will make clear where deficiencies exist and what needs to be done to remediate them.

Contact us to learn more: Call Sam Reid or Carl Day at +44 (0)20 7042 0560

How can we help?

 

Compliance Review Services

Through many years of experience, ACA has developed a suite of Compliance Review Services. Our suite offers three levels of review designed to help identify gaps in your firm’s existing governance and control arrangements as well as policies and procedures from a completeness and rule requirement perspective. At the completion of the review, ACA will provide your firm with an exception-only report detailing our recommendations and/or suggested areas for remediation.

 

Compliance Assurance Review (CAR):

Provides a high-level and efficient means of determining whether a firm is acting within the remit of its Part 4A Permission license, that its compliance infrastructure is complete and accurate, that the appropriate controls are in place and that regulatory filings are being made.

Compliance Health Check (CHC):

Provides a review of the same areas as a CAR as well as the following additional areas:

  • review of compliance infrastructure, including benchmarking relative to industry best practices, regulatory themes and guidance;
  • additional control environment testing;
  • additional staff member interviews; and,
  • cross-validation of submitted GABRIEL returns.

In addition to ACA providing an exception-only report at the end of our review, your firm will receive a copy of the high-level assurance compliance monitoring programme undertaken.

FCA Mock Audit:

Provides an assessment of all areas detailed within a CHC in addition to the following:

  • control environment interviews with non-compliance staff and general interviews with other staff members;
  • a post-interview feedback session commenting on regulatory knowledge of individuals interviewed and your firm’s overall compliance culture;
  • in-depth analysis of your firm’s GABRIEL returns and where relevant your Internal Capital Adequacy Assessment Process (ICAAP); and,
  • A presentation to your firm’s senior management relative to ACA’s review findings.

 

As part of these reviews, ACA can also provide your firm with new compliance policies and procedures, precedent documents and, where relevant, a review of the content and accuracy of your firm's Annex IV filings.

This table will help you identify the services best suited to your firm.

 

Contact Sam Reid or Carl Day on +44 (0)20 7042 0560 to learn more about our compliance review suite of services. 

 

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