Assurance Reviews
Strategi Compliance has been providing compliance reviews for financial advisers for over 20 years. Our experienced team includes individuals with financial adviser qualifications, law and business degrees. We provide reviews for all FMCA licence types plus FAPs of all sizes and advice services.
Why you need a Compliance Assurance Review?
The FAP Compliance Assurance Review will help you understand your level of compliance with the legislation, regulation, Code of Professional Conduct for Financial Advice Services, FAP licence standard conditions, product provider contracts and good conduct obligations.
To download our brochure, click here.
What does the review include?
Strategi undertakes robust, independent and professional Compliance Assurance Reviews to help you comply with your FAP licence obligations.
You may be asked to provide an independent assurance review to regulators, professional indemnity insurers and product providers.
The review includes:
- Review of FAP policies, processes & controls: To ensure the business is doing what it undertook to do as part of its FAP licence or authorised body agreement
- Review of advice documents and client files: To ensure the advice is suitable and the FMCA duty obligations are being met
- Identifying if good conduct obligations are met
- Identifying if any material changes have taken place
- Reviewing the compliance of authorised bodies operating under the FAP licence
- Checking compliance with product provider agreements
- A detailed report will be provided describing the current compliance status plus recommendations on what may need improving
When should I have a Compliance Assurance Review?
Strategi recommends an annual Compliance Assurance Review. In the first year, you may want to complete a review earlier to gain peace of mind that you have adapted to the new regulatory environment and your processes are operating well.
We understand your business is unique, so contact us today to discuss how we can tailor our Compliance Assurance Review to fit your business size and method of operation.