Retail Financial Services Compliance

The UK retail financial services sector is highly regulated, with firms of all sizes required to navigate complex regulations to ensure compliance. At Complyport, our Retail Financial Services Team specialises in helping firms meet the standards set by Regulators like the FCA. We support firms across various retail financial sectors, ensuring they stay compliant with evolving regulations, such as the Consumer Duty, whilst continuing to deliver high-quality products and services to customers. Complyport serves these retail financial service sectors:

Insurance broking
Mortgage broking
Financial planning and advice
Consumer credit broking
Wealth management
Retail Financial Services distribution

Whether you are applying for authorisation or are an overseas retail financial services provider seeking to enter the UK regulated market, at Complyport we utilise our specialist knowledge and experience of compliance, regulation and due diligence to help you navigate the increasingly complex regulatory environment.

Our Services

Our experienced team closely monitor the regulatory landscape and help you to maintain the highest levels of regulatory compliance. Our services include:

FCA Authorisations: Consumer Credit Authorisations, Claims Management Company Authorisations, and Wealth Management and financial advisor authorisations.
File Reviews: Pension Switching and DB Pension Transfers reviews, Complaint reviews, Suitability reviews, AML File reviews and KYC File reviews.
Project work: Policy and documentation reviews, Vulnerable Customer process gap analysis, Review of TCF procedures, Review AML procedures and Review KYC procedure.
Ongoing support: Regulatory and compliance advice, Regulatory horizon scanning, Outsourced compliance support and short & long term secondment, Assistance with complaints monitoring and handling, Assistance with compliance monitoring, Help with FCA reporting and capital adequacy checks, Review of financial promotions, and Assistance when dealing with the Financial Ombudsman Service (“FOS”)

Key Benefits

Implementation of the Consumer Duty rules to ensure firm-wide compliance.
Providing vulnerable customers gap analysis of policies, procedures and staff training related to vulnerable customers.
Ensuring that robust financial crime prevention is in place.
Establishing solid anti-market abuse mechanisms and controls.
Identifying specific risks relevant to the client and assessing mitigation.
Creating a firm-wide regulatory risk framework that aligns with the relevant business model and risk appetite.
Undertaking pre or post sale reviews of the advice given to clients;
Establishing solid, sustainable operational resilience.
Delivering training in person or virtually to staff and senior management to satisfy the FCA’s training requirements.
Authorisation and assessment of Senior Management roles, certified to provide retail financial services.
Ongoing advisory services for ad-hoc questions or queries that may arise in the natural course of business.

Our Experts

With a focus on practical solutions, our experts have successfully supported firms from insurance brokers to wealth management firms across the retail financial sector, helping them stay ahead of regulatory changes and mitigate potential risks.