Does your compliance framework meet your regulatory obligations?

As scrutiny increases, minor infringements, such as late or incorrect regulatory returns, or for having permissions that they no longer use, are appearing more frequently on the FCA’s radar. Firms, more than ever before, should be regularly reviewing their manual(s), policies, procedures, and documentation, as well as assessing the effectiveness of their overall compliance framework.

Our Compliance Healthcheck gives you comfort and peace of mind that you have appropriate compliance arrangements in place, from checking your policies, procedures, manuals and documentation through to assessing the effectiveness of your compliance framework.

The objective is to provide a reasonable assurance that you have sufficiently robust compliance controls in place to mitigate the risk of non-compliance with the rules and regulations. Controls can include documents such as policies and procedures, training, organisation structure, management information, independent checks, verifications or approvals.

Compliance Healthcheck service

There are three Compliance Healthcheck service options, depending on the level of scrutiny required. Whichever option is selected our reviews cover 11 key areas:

1) your systems and controls;

2) threshold conditions;

3) code of conduct;

4) fitness and propriety;

5) prudential standards;

6) conduct of business;

7) client and money assets (CASS);

8) market conduct;

9) product governance;

10) supervision; and

11) complaints.


The benefits of a Compliance Healthcheck

1. Independent assessment 

An independent assessment of whether your compliance framework meets your firm’s regulatory obligations.

2. Identifies weaknesses

Identifies any weaknesses or failings in your current compliance framework and can help to remediate any area requiring attention.

3. Evidences compliance

Supports your firm and relevant individuals in the event of a regulatory enquiry. Are you or the relevant Senior Manager function holder ‘taking reasonable steps’ relative to your firm’s compliance framework?

4. Support governance

An independent review can often be beneficial as part of your governance processes and to satisfy your senior management.

5. Allocate resources

Allows you to allocate resources more effectively to areas that require improvement.

Why choose Cosegic?

Our 360 degree perspective of regulatory affairs


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


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


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


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.

Latest resources

iStock 1332708318 Event

Webinar: Operational Resilience - what's the worst that could happen?

Read more
iStock 1145755328 Event

Bitesize webinar: ICARA process – Top 10 tips

Read more
iStock 1138124341 Article

Prudential risk management – What’s next for payments firms?

Read more