Compliance

As a business that is authorised and regulated by the Financial Conduct Authority (FCA), it is not only our culture but our obligation to assure compliance with the relevant legal and regulatory framework in force, codes of practice and best practice.

Ensuring compliance

To assure that we achieve compliance with the regulatory framework, we have established systems and controls in line with the FCAs Senior Management Systems and Controls (SYSC) to assure that we effectively manage the risk of sustaining financial damage, legal or supervisory sanctions, or reputational damage due to non-compliance or failure to comply.

In shaping our policy and procedures we take into account, apart from the regulatory framework, the sector's best practices and we seek to exceed those practices in our conduct including;

- The identification of risks and controls established to manage those risks;
- Operational compliance requirements;
- Responsibility for operating the controls and how this is to be evidenced;
- Confirmation and monitoring of compliance;
- Training and Competence

Total transparency

Our purpose is to establish lasting client relationships by delivering outstanding results and a compliant, effective and transparent service. To complement this purpose we support our compliance framework with unrivalled levels of evidence-based transparency. We have invested in bringing first-to-market technology solutions into our specialist market, delivering unprecedented new levels of transparency and driving higher industry standards.

Compliance risk

Compliance risk is defined as the risk of legal or regulatory sanctions, material financial loss, or loss to reputation as a result of its failure to comply with laws, regulations, rules, relevant self-regulatory organisational standards and codes of conduct applicable to its activities.

Compliance framework

We operate the well established ‘three lines of defence’ model. This model ensures appropriate first, second and third line controls exist within each business area, to mitigate any potential conduct risks. The three lines of defence model ensures that we are following industry best practice, operating in line with all Regulatory Body standard requirements (FCA CONC, TCF, SYSC, TC, DISP, LSB, CSA) and continually striving to make improvements to customer outcomes and the overall customer journey/experience.

We have implemented a corporate governance, policies and procedures solution which tracks and evidences that our policies and procedures have been read and understood across the business. The system enables and controls the targeted distribution of compliance documentation within the company. This includes policy and procedures, important guidance notes and tests.

Various groups have been established to support our corporate governance framework which provides senior management with relevant MI to make quick decisions to ensure the highest level of compliance and customer outcomes are delivered.