The FCA has specific rules and requirements for financial services regulated firms (including where they outsource activities and functions) to have in place effective systems and controls for managing and recording any activity deemed as fraudulent, a breach of FCA regulation, conflicts of interest between the principal, AR firm and/or its customers and to record and manage its gifts and hospitality process.
- The principal and/or AR firm can enter a record from a pre-populated menu in accordance with the activity.
- Automated tasks are generated between the principal and AR firm to ensure completion and checking through to sign off.
- Principals internal registers are completed and viewed in isolation.
- All reports can be easily accessed/filtered and downloaded for management reporting
- Real time identification of the AR firms systems and controls.
- Breach and fraud alters between the AR and principal to ensure oversight through to sign off.
- Central recording of both the AR’s and principals breach, fraud, conflicts and gifts registers.