(also see How we can help)
Overview
Comsure recognises that differing areas of regulatory compliance require differing specialisms. In order to be able to offer a full range of high quality compliance services to regulated firms, we have developed some strategic alliances with other service professionals. The combination of skills and experience brought together by these alliances allows Comsure to work as part of a team to provide your organisation with a full range of solutions.
Comsure is able to provide or facilitate an expansive range of services. These range from regulatory health checks and assistance with one-off assignments through to a co – outsourced compliance service (see risk warning). Additional services, intended to support businesses in their daily function, are also provided. Our advice to our clients will always be comprehensive and will contain detailed recommendations on how to improve on those issues highlighted. A full list of our services is shown below as well as in the tabs on the left.
It should be noted that Comsure believes that all clients are unique and with this in mind a bespoke solution should always be sought. Therefore, please come and talk to us to enable us to tailor a bespoke solution for your organisation and situation.
Regulatory Authorisations
The development of a new business or area of business may require authorisation by the regulator. Comsure can advise on whether an application need be made and, can assist with its submission. Alternatively, we can review an application already prepared prior to its submission.
Business Health Check
There is little to be gained by waiting until an audit to spot compliance deficiencies. Comsure can review the systems and procedures within your organisation at any time prior to an audit with a view to highlighting any areas where the requisite standards are not being achieved. In the event of any such deficiencies being identified, we can suggest ways and means of addressing the shortfall.
Audit Follow-up
Following an audit, the regulator may require certain changes to be made in relation to an organisation’s procedures and systems. Comsure can discuss these requirements with the client and help to provide a solution to ensure that the identified deficiencies are addressed to the requisite standard.
Investigation / Enforcement Support
If your organisation finds itself under investigation by the regulator, it may have committed a serious breach of its licensing requirements. Comsure can advise an organisation on the nature and implications of the investigation. Where appropriate, we can work with an organisation to facilitate the investigative process.
Liaising With The Regulator
Financial services organisations are under an ongoing duty to comply with regulatory guidelines. It is therefore good practice to keep open a line of communication with the regulator, so as to ensure transparency in business procedure and thereby help to demonstrate ongoing compliance. Should you need to liaise with the regulator for any reason, Comsure can assist with this process.
Skilled Person Report
As part of its investigative process, the regulator may require a report to be prepared on a particular area of an organisation’s business. This report should be prepared by a ‘Skilled Person’, to be agreed between the organisation and the regulator. Comsure is able to draft reports of this nature, subject to the consent of the regulator.
Complaints
It is a fact of life that mistakes occur. Organisations should learn from their errors, try to keep them to a minimum and ensure that anyone on the receiving end is suitably recompensed. There are occasions when there is a difference in opinion between the parties as to what represents sufficient compensation. Where the differences become entrenched, costly litigation can occur. Comsure recognises that it can be time-consuming and frustrating dealing with complainants. We can provide an ongoing complaint handling service, dealing with the complaint in an objective, fair and professional manner. We will enter into dialogue with both parties and try to negotiate a happy outcome. Where appropriate, we can liaise with interested third parties, such as insurers and professional bodies.
Policies and Procedures
As the regulatory requirements affecting financial services businesses change, so should the systems and procedures followed by compliance officers evolve to accommodate these developments. Comsure can work with businesses to review their compliance procedures and systems and draft and / or update compliance manuals to ensure that they reflect the current requirements.
Training
Comsure is able to provide general or bespoke courses in all aspects of regulatory compliance. Given the specialist nature of this field, we can provide a full range of on-site training to ensure that your staff are kept abreast of the latest developments in compliance relating to your organisation.
We have attached an example training outline for you (or your training officer or MLRO) to consider – if you have any questions please contact us. Please note we are happy to vary any training to meet your needs.