The Financial Conduct Authority (FCA) Regulatory Review

  1. Due diligence over delegated third-party investment managers and funds
  2. Oversight of delegated third-party investment managers and funds
  3. Governance and oversight
  4. Financial resources
  • Insufficient information gathering through in due diligence and evidence of poor oversight of delegated third-party investment managers.
  • Informal, undocumented discussions and decision making alongside inconsistent escalation of issues from the product governance committees to the management committee and on to the board.
  • Poor levels of analysis of how the investment manager could achieve their targets.
  • Where follow-up action was needed, there were no records of what steps had been taken to reach the relevant conclusion.
  • Risk and conflicts of interest registers were static, standalone documents, and there was little to no board discussion about them as well no clear risk appetite statements.
  • Errors in regulatory reporting from firms.
  1. Strengthened due diligence — Centralised area to gather and store all relevant documentation to fully understand the funds for which they would have responsibility.
  2. Increased collaboration & communication — Real-time KPI dashboard, build custom reports using KPI filter sets and graphs to easily interpret the data being managed. Votes/approvals can also be easily requested, registered and captured within the system, cutting out follow-up emails and chasing of information.
  3. Documenting decision making — with aggregated data, an automated workflow, centralised dashboard can drive ongoing, continuous improvements of your operations with improved decision making.
  4. Track & Trace — Easily retrieve, verify & timestamp what work was done (or not done). Optional choice of adding details such as comments, policies & procedures and attaching relevant documentation.
  5. Secure, up-to-date document storage — House all relevant documentation such as risk appetite statements with a system that offers real-time, analytical data, giving staff the ability to easily run meaningful, data diagnostic tools, instead of spending a lot of time trying to interpret the data they manage.
  6. Bespoke Report Generation — Create and customise board / management reports.

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