Expert Advice & Interim Resources

The Regulator recommends that consumer credit firms have appropriate compliance expertise. Not only does this help firms to put the right regulatory safeguards in place but also supports them through periods of regulatory intensity. The FCA will take a dim view of breaches that have resulted from a failure to employ the right skills.

To ensure compliance, firms need to ensure that they have the capability and the capacity to manage regulation; and keep up with change. A firm’s compliance resource will depend on the nature, scale and complexity of its business. For smaller firms it may be more practical to outsource through a specialist provider as required. Larger and more complex firms will have greater demands and are likely to need a full-time compliance function. Firms who rely on a low level of non-specialist knowledge, or who fail to dedicate sufficient resources to managing regulation, are unlikely to achieve satisfactory standards.

Whatever your business looks like, CCAS has the capability and experience to fulfil your needs for compliance expertise and resources. We can act as your retained expert, calling on us when you need to for advice, training or to support you with FCA reporting and liaison. We can also offer a recruitment service for appointing permanent compliance managers and for resourcing larger interim teams should you need to carry one-off projects.

To find out how we can help you with compliance expertise and resources, get in touch with us today by clicking the button below.


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Articles

FCA Senior Managers and Certification Regime – 3.0 From the UK with Love

Introduction The SM&CR was developed as a result of the 2008 financial crisis and the outcry from the public following its perception of the lack of accountability and punishment of those running and controlling the banks and other financial sector firms, whilst by way of the ripple effect, the public paid the economic price for …

October 30, 2018 at 4:14 pm

FCA Senior Managers and Certification Regime – 2.0 Enforcement

Introduction The SM&CR was developed as a result of the 2008 financial crisis and the outcry from the public following its perception of the lack of accountability and punishment of those running and controlling the banks and other financial sector firms, whilst by way of the ripple effect, the public paid the economic price for …

October 26, 2018 at 9:42 am

FCA Senior Managers and Certification Regime – 1.0 Background

Introduction By and large, responsibility for the 2008 financial crisis has been laid at the doors of the banking sector, and in response, Parliament set up the Parliamentary Commission for Banking Standards (PCBS) with a mandate to recommend how standards in the banking sector could be improved. PCBS identified that firms should take more responsibility …

September 25, 2018 at 11:06 am

P2P faces tougher rules

Previously the peer to peer (P2P) lending sector had only been on the fringes of consumer credit regulation. With the transfer of consumer credit to FCA in 2014, P2P platforms were recognised as a regulated activity under a new category, “operating an electronic system in relation to lending”. In 2016 FCA launched a post implementation …

August 13, 2018 at 9:53 am