Regulatory compliance
For all organisations engaged in activities that come under the control of a regulator, IcL provides support, advice and assurance to help you manage your regulatory risks. In an ever-changing regulatory environment, we help ensure that you identify, manage and control any existing and future regulatory risks. A proactive rather than a monitoring approach to regulation is now a full-time strategic business activity.
Our team consists of experienced regulatory risk specialists, including ex-regulators, who not only know the rules but have also implemented and assessed compliance against them. Our people can help you at the strategic level by maximising any competitive advantages from regulation, through to the operational level by minimising the costs and disruptions to your business, freeing up management time in the process.
Potential issues
- You don’t know whether you are regulated, or will be regulated
- You don’t know whether you comply with your regulator’s rules
- You might be spending too much to comply with regulations
- There are too many regulations for you to cope with
- You might be tying up too much regulatory capital in specific businesses
- You need to plan for staff training in light of new compliance issues
- You are engaged in energy trading and need advice on registering and reporting to the Financial Services Authority
- Proposed regulations might destroy your business or lead to a loss in competitive advantage
- You are concerned about the reputational risk from failing to comply with regulations
- You want to confirm that your sales force is complying with the sales and marketing code of conduct.
How we can support you
- Minimise risk of regulatory fines or enforcement action by your regulator
- Minimise risk of personal fines or enforcement against your executives
- Take a proactive approach to addressing regulation and its impact, as opposed to a reactive ‘fire-fighting’ approach
- Maximise the competitive and strategic opportunities resulting from regulatory change
- Reduce costs associated with regulatory compliance
- Provide independent assurance and benchmarking of regulatory compliance
- Share best practice recommendations and experience in regulatory reporting.
IcL’s regulatory compliance services include
- Independent assurance of regulatory compliance and benchmarking against industry peers, supporting your regulatory responsibilities
- Assessment of current and future regulatory risk profile and impact of new regulations
- Effectiveness reviews of current compliance departments
- Assistance in managing regulatory capital requirements and optimising use of regulatory capital across a group
- Independent assurance on regulatory financial statements
- Developing and implementing a risk-based compliance control framework and monitoring programme
- Helping to increase the profile of regulation and an appropriate compliance culture within your business
- Evaluation of strategic implications of new regulations and integration into business model
- Advice and assistance with regulatory relations and in meeting regulatory standards and expectations
- Advice and assistance in getting your business authorised by a regulator
- Assistance and support in dealing with regulatory enforcement actions and remediation exercises – getting your business back on an even keel quickly.