Situation

A wealth management firm looking to commence operations in the UK was undergoing the process of obtaining mandatory authorisation from the Financial Conduct Authority (FCA) in order to legally operate.

Task

MEMA Consultants was brought in to provide comprehensive support throughout the authorisation process. Our objective was to guide the client through the application and ensure they demonstrated full regulatory expertise and compliance.

Outcome

MEMA provided focused and in-depth preparation for the FCA application:

• Conducted mock interviews to prepare senior management for FCA assessment calls and refined their responses.
• Reviewed and optimised their regulatory business plan to address any weaknesses and align with FCA requirements.
• Created a tailored control monitoring plan to enable compliance and risk mitigation.
• Assisted in drafting senior management forms that met FCA standards.
• Delivered training on FCA reporting obligations and timelines.

Through our end-to-end advisory, the client exhibited stellar understanding of regulatory requirements during the application process. As a result, the wealth management firm was able to secure authorisation from the FCA and commence UK operations.

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