Safeguarding Audit and Training
Safeguarding customer funds and client assets is an important part of the Central Bank of Ireland’s regulatory focus concerning consumer protection. We envisage the supervisory scrutiny will only increase in the coming months and year.
As a team of leading regulatory compliance experts in Ireland, fscom have a wealth of experience in assisting investment firms, payments and e-money and crypto firms specifically in ensuring their arrangements to protect customers’ funds are robust.
What is safeguarding?
Safeguarding in the regulated sector is ensuring you have the appropriate arrangements in place to ensure your customers’ funds are protected in the unlikely event of your financial institution’s demise.
It can be a complex process and clarification is often required around what funds are relevant, when the obligation begins and ends and when reconciliation should occur.
Who does it apply to?
All MiFID authorised investment firms, and authorised payment institutions (APIs), e-money institutions and small e-money institutions must safeguard client funds at the point of receipt.
How can we help?
Our team of compliance experts have over 10 years’ experience of assisting firms with their safeguarding arrangements. We provide a range of safeguarding services.
- Safeguarding audit
- Safeguarding policy and procedures
- Safeguarding training
If you have queries on your safeguarding arrangements which you would like to clarify in full confidence with leading regulatory experts, talk to us today.
2022 Regulatory Outlook Event Ireland
Dear CEO: Central Bank of Ireland sets expectations for Payment and E-Money firms
Six steps to effective safeguarding for payment and e-money institutions
Get in touch...
Book your free consultation with our Director, Alison Donnelly.