Banks

Resources Compliance has a pool of specialist regulatory consultants with a wide range of experience and expertise. Through our network of offices in the major trading or financial centres around the world, Resources Compliance is able to support our financial services sector clients. Whether doing business in a specific jurisdiction or whether engaging in cross-border services, we can provide regulatory advice and hands-on compliance guidance to our clients as they need it.

Working closely with our clients’ in-house legal and compliance teams, we can leverage the knowledge of our local office teams alongside the specialist regulatory, compliance and risk management expertise within our financial services practice

Overview of Projects

Basel II
We assisted our client to prepare and implement their Internal Capital Adequacy Assessment Process (ICAAP). We began by briefing their senior managers to help them to understand their responsibilities and obligations. We then carried out an enterprise-wide risk assessment and assisted the Compliance team to plan mitigating actions and develop an appropriate compliance monitoring programme. We also assisted them to liaise with other key business functions to ensure an end-to-end seamless risk control programme was in place. We then liaised closely with the operational and financial functions to understand key business developments, and to develop and agree the financial implications of those risks that could not be mitigated or controlled via robust processes and procedures. Throughout the process we liaised closely with the firm's senior management.

Cross Border Regulation
A UK-based client was doing business from the UK into a number of European and non-European countries. The client, needing to understand which staff could conduct business in which relevant country looked to Resources Compliance for assistance. We carried out an enterprise-wide conduct of business assessment and identified which activities constituted cross-border activity requiring a passport or local host state regulatory authorisation. We then provided clear and concise guidance on who could carry out activities in which country. We also identified those countries for which ISD or IMD passports could be utilised and those countries within which an application to the local regulator was required for authorisation or clearance. We then assisted the firm to make the relevant passport, regulatory clearance or regulatory authorisation applications.

ARROW Briefings
Our client was scheduled to receive an ARROW visit from the Financial Services Authority (FSA) and looked to Resources Compliance to help them prepare. To begin, we liaised with the Head of Legal and Compliance in advance of our on-site visit to agree on a briefing scope. Based on this, we developed an agenda for the briefing visit.. Senior management then prepared a presentation of their roles and responsibilities which they presented in advance, enabling us to provide feedback on the clarity of message and consistency of approach. We were also able to identify any weaknesses or gaps in the firm’s risk mitigation plans. The session concluded with an overall summary of actions needed and confirmation of the management information required for the visit. After the FSA visit took place, we scheduled a debrief on the firm’s reaction to the oral findings and arranged follow-up meetings to review the revised Risk Mitigation Plan, once issued by FSA.