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Start-ups/FSA Authorisations
a) Services for New Start Ups
If you are establishing a new hedge fund manager,
IFA or other FSA regulated business, choosing FSA Compliance Consultants
to develop and maintain your back office and compliance functions
provides a very cost-effective way to hit the ground running and
be able to operate your day to day operations in a manner which
complies with FSA rules and minimises the process risks. Our services
cover any or all of the following:
- Advising whether your proposed business
constitutes a regulated activity that needs authorisation and
the appropriate way to structure the activity.
- Assist you with the preparation of your
application to the FSA and the supporting documents and responding
to any issues raised by the FSA on the Application.
- Implementation of compliance systems, controls
and written documentation including a Compliance Manual and Annual
Compliance Plan.
- Compliance Monitoring.
- Providing staff training.
- Advising on periodic Regulatory returns.
- Advising on approved persons, staff recruitment
and vetting, training and competence including job descriptions.
- Expert guidance on specific issues.
The Pitfalls for Businesses Starting Up
- Regulatory Risks.
The very significant powers and sanctions of the FSA were
referred to in the homepage. Before you begin to trade,
there are considerable numbers of clearances to be obtained.
We obtain approvals from the regulator.
- Financial Risks.
In the early stages of a new business, building an operations
and a compliance department can result in operating costs
and cash outgoings which are very high as a percentage of
sales income. Each new employee will cost in recruitment
agency fees. The total cost of an employee can be significantly
higher than base salary when account is taken of other costs
such as employers NHI, office space and equipment costs,
benefits in kind etc. In addition, flexibility for employers
is restricted and additional actual & potential costs
are imposed by employee legislation.
- Personnel. In the
early stages of a new business attracting and motivating
qualified personnel can be problematic.
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Benefit of Choosing FSA Compliance Consultants:
- Increased Sales. Frees your
time to enable you to focus on your core competencies e.g. selling
or financial management.
- Budget Corporate Solutions.
It can help cut back-office costs through economies of scale and
up to 50 percent can be saved with this approach, compared with
in-house processing. It changes the cost basis of your firm by
converting substantial fixed overhead costs into volume-related
costs. The simplest arrangement involves a monthly fixed cost
that is independent of the volume of trades.
- Speed and effectiveness of
implementation Qualified and highly experienced consultants
with experience of setting up the compliance and operational infrastructure
for financial services businesses and managing Operations departments
and Compliance departments.
- Flexibility. We offer a range
of flexible solutions ranging from setting up your operational
and compliance infrastructure through to providing an inclusive
outsource facility for FSA compliance that can be tailored to
your budget and requirements.
FSA Compliance Consultants was established to
provide tailored and cost effective business solutions to the most
common compliance problems faced by financial services businesses.
We have the sector expertise. We have the products. And more than
that
we have the people and the mindset to deliver distinctive solutions.
To find out more about our services, contact
us.
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