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New RegTech FCA Compliance Service to Help Principals Manage their Appointed Representatives. PDF Print E-mail
Wednesday, 22 March 2017
Compliancy Services, the Financial Conduct Authority (FCA) compliance consultancy, has launched AR MonitorSM to help firms meet the FCA expectations outlined in the ‘Thematic Review of Principals and their appointed representatives’.

Combining expert consultancy with unique web based applications, AR Monitor has been developed particularly for firms regulated for consumer credit activities and those in the insurance sector. It provides the opportunity to outsource all or part of the compliance management process for appointed representatives (ARs).

Ben Mason, Joint CEO of Compliancy Service explains “Our discussions with Consumer Credit Lenders, Brokers and other intermediaries and those in the Insurance sector revealed that many firms want to grow or maintain an AR Network but they either lack the knowledge and expertise or don’t have the resources, systems and processes required to meet the FCA obligations.”

AR Monitor has a six stage service process supported by proprietary web based applications that evidence the implementation and management of a firm’s AR compliance framework for their board and, if necessary, the FCA. It begins with the establishment of an AR compliance framework and includes AR onboarding, monitoring, compliance training and sales process oversight.

Iain Stephen, Joint CEO of Compliancy Services says “AR Monitor offers firms the chance to outsource the process saving them time and providing them with evidence of control.”
 

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