Business Issue
The client, a leading fintech firm offering corporate foreign exchange services, required regulatory support from fscom across two critical workstreams: breach notification to the FCA and a MiFID VoP. The client needed expert guidance to ensure compliance with FCA regulations, address a potential breach appropriately, and successfully amend their regulatory permissions.
Solution
fscom engaged with the FCA to address a potential breach, clarify regulatory permissions, and submit a SUP 15 breach notification with a remediation plan. They managed FCA liaison, drafted, and submitted the MiFID VoP application via the Connect Portal. The team updated compliance documents and provided ongoing support to ensure smooth FCA engagement.
2 Workstreams
Breach Notification & MiFID VoP
1 SUP 15
Breach notification submitted
100% Compliance
Regulatory framework strengthened
Benefits
fscom ensured the client met FCA requirements while mitigating regulatory risk and potential penalties. Their streamlined approach led to efficient and accurate submissions for both the breach notification and the VoP process. The client's compliance framework was strengthened by updating policies and procedures to align with regulatory expectations. fscom’s expertise in regulatory relationship management facilitated clear and effective communication with the FCA, ensuring a seamless process.
Client
Feedback
The client said fscom provided invaluable expertise and support in navigating a complex regulatory environment. They praised fscom’s structured approach and deep understanding of FCA processes, ensuring that their breach notification and MiFID Variation of Permissions were handled efficiently and effectively. They shared their appreciation for fscom’s professionalism and ongoing support.
