Our expertise

Consumer protection, treating customers fairly and delivering appropriate products and services is at the heart of FCA regulation. This has resulted in greater regulatory scrutiny for wealth managers on product governance and suitability, as well as thematic reviews of portfolio construction and the suitability of the selected service. The implementation of the new Consumer Duty has increased the FCA’s focus on the Wealth sector and we are currently helping numerous firms with the implementation of the Duty and the demonstration of suitable client outcomes.

Cosegic's experienced Wealth Management team helps clients navigate the FCA’s requirements, using our in-depth knowledge to interpret and simplify complex regulations. Our practical and clear advice helps you put in place effective solutions and appropriate compliance regimes for your business model, which support your growth. We can review your governance arrangements, suitability assessments and client communications to give you assurance that you are meeting regulatory requirements, or support you in putting action plans in place where improvements are needed. We can assess your third party firm dependencies and outsourced services such as dealing, custody, transaction reporting and product manufacturing to make sure that they will meet the FCA’s requirements, including whether your oversight over them is sufficient.

In addition, regulators expect firms to hold sufficient capital based on formulaic requirements, to regularly stress test liquidity risks and to have a robust wind down plan. Our specialist Prudential services can help to interpret the requirements and avoid common errors that are likely to lead to unwanted attention from the regulator. Our consultants work closely with you to get to the core of your business model and truly understand all your compliance needs, so you can concentrate on growing your business.

FCA authorisations and application services

FCA Authorisation

We have managed over 1,500 successful FCA applications across all sectors and frequently interact with the FCA to keep our understanding of its requirements fresh and up to date.
Find out more

Variation of Permission

If you are an authorised firm looking to change your regulated activities, start a new business line or add new product/client types to your business line, we can support you with your variation of permission (VOP) application.
Find out more

Change in Control

If you are looking to acquire or increase control of a regulated firm you must send a notification to the FCA for a Change in Control (CiC) and have prior approval from the FCA before the transaction can go through. We can help you notify the FCA of the change and ensure that the CiC goes smoothly.
Find out more

Appointed Representatives

We help firms that want to build a compliant AR network, and/or maintain their current network. Our support services include annual AR reviews, AR monitoring, and development support of appropriate and compliant AR frameworks. Whether you are looking to become a principal yourself or are unsure as to whether becoming an AR is the best route for you, contact us today.
Find out more

FCA Sandbox

The FCA Sandbox is open to authorised firms, unauthorised firms that require authorisation and technology businesses that are looking to deliver innovation in the UK financial services market. Cosegic can help firms prepare their application to enter the FCA Sandbox and help them navigate through to successful authorisation.
Find out more

Ongoing compliance support and regulatory projects

Ongoing Compliance Support

Cosegic support hundreds of firms with their ongoing compliance requirements, be it through regular compliance monitoring, online and classroom training, compliance assurance reviews or carrying out remediation required to meet regulatory obligations.
Find out more

Consumer Duty

A wide range of services options to support all firms with the implementation of the new Consumer Duty.
Find out more

Secondments

Highly qualified compliance professionals available to support short and long-term resource requirements.
Find out more

Compliance Healthcheck

Our Compliance Healthcheck gives you comfort and peace of mind that you have appropriate compliance arrangements in place.
Find out more

SMCR

Bespoke specialist consultancy services and Conduct Rules training that efficiently supports implementation and ongoing management of your SMCR obligations.
Find out more

Financial Promotions

We’ll review of your firm’s financial promotions to ensure that you are meeting the FCA’s financial promotion rules and Advertising Standards Authority guidelines
Find out more

Regulatory Reporting

Regulatory reporting is the main regular communication the FCA has with most firms. Mistakes in regulatory reporting can lead the FCA to conclude that the firm’s controls are not at an appropriate level, and lead to further investigation. We can help ensure that firms get it right the first time.
Find out more

ICARA

The IFPR introduced a new capital adequacy and risk assessment and supervisory review and evaluation process - the Internal Capital and Risk Assessment (ICARA). Our in-house prudential experts can help firms to master it.
Find out more

Why choose Cosegic?

Our 360 degree perspective of regulatory affairs

01

Our 360 degree perspective of regulatory affairs

Our wide range of financial sector experts come together on a regular basis to discuss their interactions with the FCA and the regulatory trends that they are seeing, providing us with a more informed understanding of the FCA than our competitors.

Direct, proportionate advice

02

Direct, proportionate advice

Our unique perspective means we really do have our fingers on the pulse of regulation, which helps us to ensure that the advice we offer is practical, helpful and directly proportionate to our clients’ needs.

Our understanding of the role of compliance in firms

03

Our understanding of the role of compliance in firms

We have watched the evolution of compliance over the past twenty years and understand that compliance must now become a core part of how financial services carry out their businesses in order for them to be successful.

Compliance confidence for visionary growth

04

Compliance confidence for visionary growth

In recognising this, our services have been built in a way that can help you navigate regulation ensuring you will keep your vision and objectives intact. Our breadth of experience allows us to balance your business objectives with your compliance requirements.

We're experts in our field

 

Meet Maurice McDonald, the Director of Wealth Management here at Cosegic. He specialises in providing regulatory advice to wealth managers and banks and has over 25 years’ experience in financial services. Over the years Maurice has focused on number of regulatory change propositions, including MiFID II and SMCR. He has also led a number of conduct of business reviews (several were supporting FCA enforcement action under a s166). This has provided him with a detailed understanding of the FCA approach and how to effectively manage regulatory interactions. The work he has performed encompasses the complete regulatory life cycle (product design through to sale and beyond), the design and implementation of conduct risk and compliance frameworks and the performance of risk assessments.

 

CONTACT MAURICE

Maurice M

Latest resources

MORE RESOURCES
iStock 1181983763 Event

Webinar: Immediate Consumer Duty priorities and how to achieve customer understanding

Read more
iStock 1166187829 Article

Does the FCA consultation on enforcement signal a more aggressive approach?

Read more
faris mohammed j4df6 DS3II unsplash v2 Article

GAP Insurance – What is the current state of affairs?

Read more
Corrina 2 Company news

Meet Corinna - Director of Financial Crime

Read more