Bringing a quarter of a century of FSA/FCA experience to bear on specialist projects

RegData/Regulatory reporting

Assisting all firm types with Regulatory reporting, whether ad-hoc/per-filing, or on a retained basis.

Covering all three systems - RegData, Connect, and their Fees Invoicing portals.

This also includes assistance with 'EHGO' reporting, which is something the FCA clearly thinks that newly-Authorised firms have the time to be emburdened with.

Section 165 enquiries/investigations

The FCA will issue anything from a 'friendly enquiry' to 'learn a little more about your firm and sector' - to a full-on investigation into the firm, be that firm-wide or area-specific.

These need to be handled extremely carefully, because if you respond in the wrong manner you will literally invite them 'in' and trigger a much fuller look-around the business - which will cost you time, money and create a lot of stress.

These enquiries can be managed and contained - so do seek assistance.

Change in Control

This term is used interchangeably to describe two entirely different things - changes in share allocation, versus changes of the composition of the Board.

Where a full firm buyout is the objective - then this should correctly be done via the Section 178 process.

If you are considering playing around with the composition of your Board (add/remove/swap-out an SMF function) - I can help.

Section 178 - full firm buyouts

While this can be done via the 'back-door' - these should correctly be done via the Section 178 route.

These typically take a few months, depending on the sensitivity and/or complexity of the manoeuvre.

These need to have their viability carefully evaluated for maximum chances of FCA sign-off, as they have their specific 'triggers' - e.g. they do not like Authorisations through the back door.

I would evaluate the buying team, the target firm, and advise on the best overall strategy (e.g. whether or not we will need for an SMF to remain on board at the target firm, etc).

I could represent either the Buyer or the Seller - but in all cases, it is easy and simple enough to be serving the interests of the project and the collective desired outcome - as all interests are by definition aligned.

If you are considering buying or selling and if you want to be on my books for that purpose, we would need a discovery call (£500) and after some follow-up information-gathering by e-mail, I would be able to 'package' you for sale or purchase.  Here the discovery call would also cover how the process works and what considerations you need to keep in mind.  Note that in the realm of FCA businesses for sale, all of the Regulatory risk by definition lies with the Selling firm - this is important to note, as some firms relinquish control for the process to the Buyer, and this can sometimes be inadvisable.

Perimeter guidance

Full guidance on whether or not your business requires Authorisation in the first place.

'Anti-Perimeter' service - for where you wish to construct your business in such as way as to not trigger the FCA Perimeter, or advice (written analysis/mini report) over where the 'nodes' are for your business model, which would breach the Perimeter and require Authorisation.

VREQ

These have many different ways to be handled, and much like a Section 165 enquiry - there are ways to handle these in a way which digs your hole further, and ways to limit the consequences and come out of the other side with limited fallout for your business

Authorisations

Apart from Consumer Credit credit broking Applications - for all other Application types, 'policy' documentation is generally not created. The days where 'templated' documents used to pass muster are now long gone, and any significant Application should already contain the required human resource and experience whereby the business is already more than able to devise its own policies and operational documents.

However I would help with how to structure these, and assist your team with developing these, and providing pointers and guidance, based on which regime you are trying to satisfy.

What is created and assisted with is the Regulatory Business Plan and accounting forecasts.

Full assistance is also provided with the actual Authorisations journey, how to deal with the FCA, their questions, coaching for any phone-based interview, how to keep the case on-track, avoiding pitfalls, trips, tricks and other trip hazards - and indeed 'pushing back' where appropriate.

Case rescue

This will range from Form-A rescues, to rescuing cases which would seem to be crashing.  Indeed - many firms give up at the first mention of 'serious concerns', and indeed of 'Refusal'.  Most Applicants don't know how to tackle these stages, and indeed push back and bring back from the brink.

Fees

I do not sell on price, as matters as serious as dealing with the FCA should never be addressed based on price.

Further - my fees are very little to do with time, but rather knowledge, experience over how to deal with the FCA, and insight. 

Indeed, I've often been able to provide a level of clarity over an issue in one e-mail - that lawyers paid many thousands could not get to the bottom of - it would seem that for many, FSMA and the Regulated Activities Order is an arcane realm.

So if you do buy a service such as this on price, and go with the cheapest quote - you're welcome back here when you've paid the price and the matter goes inevitably awry (see 'Case Rescue').

Discovery calls

All advice in terms of evaluating your needs and establishing project viability etc - is free where you conduct this by e-mail.

All real-time advice and interaction (i.e. phone calls) - even at outset - is fee'able, and needs to be paid in advance of any phone call.

Fees typically land at £250, £500 or £750 - depending on industry sector and enquiry complexity.

However - the objective of all calls is to leave you fully furnished with all questions answered and full clarity provided on the subject at hand.

I look forward therefore to hearing from you if you feel I may be able to be of assistance.

Arif Latif

info@ukregulatorylicencing.co.uk