All regulated businesses have a duty to provide accurate and timely regulatory returns, including those related to the adequacy of their financial resource requirements. Mis-interpreting these rues or having inadequate processes can lead to costly errors. Firms may inadvertently hold, or be forced to hold by regulators, higher levels of capital or liquid assets, or they could even be restricted in terms of the amount and types of business they conduct.
In addition, since the FCA announced its Transformation Programme as part of its 2021/22 Business Plan, there has been an increased instances of s165 letters being sent to firms who submit regulatory returns late or with errors. It has never been more important for firms to ensure their regulatory returns are correct and on time.
Regulators are increasingly focussed on the financial adequacy of firms and, in particular, ensuring that all regulated businesses hold sufficient financial resources to mitigate the risk of harm they pose to customers and the wider financial services sector. As regulatory expectations continue to evolve, firm’s cannot afford to navigate these complex rules and historic guidance incorrectly.
All FCA regulated businesses, no matter where they are in their lifecycle, need to be sensitive to their prudential requirements. Whether that relates to their regulatory reporting, group and capital structures, approaches to risk management, or their interpretation of the relevant rules and requirements.
Capital and Liquidity Adequacy
The sectors we work with...
Wholesale Investment Firms
Our large team of wholesale industry experts work with clients including hedge fund managers, private markets firms, brokers and corporate finance firms.READ MORE
Our Capital Markets team use their experienced regulatory knowledge to help asset managers and broker dealers with a full service offering over a large spectrum of regulatory issues.READ MORE
Cosegic’s experienced Wealth Management team can help you interpret the regulations, using our in-depth knowledge to simplify complex regulations.READ MORE
Payment Services and Cryptoassets
Our industry leading team know the regulatory landscape inside out, with our experience extending from traditional and challenger banks, authorised e-money and payment institutions through to fintechs and cryptoassets.READ MORE
Insurance, Mortgages and Claims
We advise clients ranging from insurance brokers, insurance companies, managing general agents and intermediaries involved in insurance mediation, such as motor dealerships and call centres.
We have eased the compliance burden for lenders and brokers across numerous consumer credit firms in sectors ranging from motor sales, healthcare and agriculture to retail, training, and utilities.