How to Get FCA Authorised Key Steps for Compliance (Part 2).pdf

In this presentation, we explore essential components your business must prepare to achieve FCA authorisation. The key areas covered include establishing robust systems and controls, identifying and supporting target customers, ensuring transparency in fees and charges, and maintaining compliance with financial promotion regulations. Each section provides practical insights to help businesses align with FCA requirements and safeguard their reputation in the financial sector. This guide serves as a crucial roadmap for firms aiming to meet regulatory expectations efficiently.

1. Introduction
How to Get FCA Authorised (Part 2).Key Focus Areas:
Systems and Controls
Target Customers
Fees and Charges
Financial Promotions
Objective: Understand the essential elements your business must prepare for FCA
authorisation.

2. Systems and Controls
Outline staff compliance monitoring and quality assurance measures.
Detail internal/external audits, staff performance management, and
training programs.
Ensure financial crime and fraud controls are in place with proper
documentation.
Provide evidence of a robust control framework, including process
manuals and senior management oversight.

3. Target Customers
Identify your target customers, including vulnerable groups.
Explain your approach to managing and supporting vulnerable customers.
Breakdown distribution channels by percentage and ensure appropriate
customer safeguards.

4. Fees and Charges
Ensure that all fees and charges are transparent, fair,
and not excessive.
List all applicable charges and examine their impact on
consumers, especially the vulnerable.
Review terms and conditions to ensure clarity and
fairness in customer contracts.

5. Continuously review promotional materials (brochures, websites, social media, etc.).
Ensure promotions are clear, fair, and not misleading.
Avoid targeting vulnerable consumers with inappropriate promotional content.
Update policies and procedures to comply with FCA advertising rules.
Financial Promotions

6. Let’s Connect
https://www.memaconsultants.com
[email protected]
03301330811

7. Thank
You