Grainger Consulting

 
REGULATORY CONSULTANTS AND TECHNICAL ADVISERS
TO THE FINANCIAL SERVICES INDUSTRY
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FSA Applications

Having helped our clients work through the various regulatory, organisational and operational issues involved in setting up a business, we can assist them in preparing their application for authorisation by the Financial Services Authority (FSA).

We can provide full hands-on support, guiding them step by step through the FSA approval process which includes reviewing or drafting the following relevant documentation:

  • Application forms
  • Review Controlled Functions and Scope of Permission applied for
  • Review client prepared documents, Forms A and references
  • Compliance Plan
  • Compliance Risk Assessment
  • Compliance Monitoring Plan
  • Training and Competence procedures
  • Compliance Manual.

Or we can simply review a completed application and provide guidance as appropriate.

Compliance Manual

A key part of the FSA application is the drafting of a Compliance Manual and a Compliance Monitoring Plan. We will carry out a Compliance Risk Assessment and design a Compliance Monitoring Plan to control and mitigate those risks. We will then document it within a user friendly Compliance Manual.

Authorisation Process

We will not just file an FSA application and then forget it! Instead we will liase closely with the FSA Authorisation Team and monitor the progress of an application. In general, because we insist on getting applications "right first time", our experience has been that our hands-on approach ensures applications are processed relatively smoothly.

Investment Services Directive (ISD)* And Insurance Mediation Directive (IMD) Passport Applications

If our clients intend to market their fund or services outside the United Kingdom, it is likely they will need regulatory authorisation or clearance from the relevant regulator in the countries concerned. Under the European Union (EU) Single Market initiative, it is possible to obtain an ISD or IMD Passport (on a cross-border Service or a Branch basis) into any or all of the EEA* countries. This avoids the need for individual regulatory clearance or authorisation in those countries for which Passports are granted. We will assist them in making any ISD or IMD Passport or regulatory application required.

* Investment Services Directive (ISD) issued by the European Union.
The European Economic Area (EEA) countries are the 25 EU Member states plus Iceland, Liechtenstein and Norway.

Part IV Permission

The FSA grants a firm permission to perform regulated activities under Part IV of the Financial Services and Markets Act 2000 (FSMA) in accordance with the firm's Scope of Permission Notice when the application is authorised. After authorisation the firm can apply to the FSA for an extension or reduction to their Scope of Permission.

Rule Waiver Application

We will interpret the rules and ascertain if the firm is eligible for a rule waiver. We will assist our clients in completing the application and we will liase with the regulator on their behalf.

 

 

Post  Grainger Consulting, Quantum House, 32 Mellor Road, Cheadle Hulme, Cheshire, SK8 5AU, United Kingdom
Tel  Phone 0161 486 1000
Email  E-mail cheadle@compliance.co.uk
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