REGULATORY ADVICE

Mortgage Intermediaries, Independent Financial Advisers (IFA) and General Insurance Brokers earn their living by delivering excellent customer service and advice to their clients. It would be unrealistic to expect everyone to be expert in every element of Regulation. This is where the regulatory advice industry steps in and adds additional support.

The FSA does not require a firm to use consultants and many firms are able to manage their own compliance using the FSA website and its contact centre.

However, as the FSA points out on its own website, you must have a framework for:

assessing and covering the risks to your business
meeting regulatory requirements
checking your firm continues to be compliant

Telos has designed its compliance service to help intermediaries carry out remedial action required by the FSA on past sales, and providing advice on how to avoid such action in future.

Whether an intermediary firm is aware that they are to be visited by the FSA or simply wants to ensure they meet the current requirements, the Telos Compliance service can help by reviewing the existing operating processes, systems, controls and documentation to establish any shortfall in relation to current FSA expectations.

The following trade bodies also have useful links on obtaining additional help for intermediaries.

APCC - Appointing a consultant
AIFA - AIFA Home Page
AMI - AMI Home Page