Every business needs a structured complaint procedure template. Most importantly, a complaint handling procedure should support a method of review and improvement.
Alongside a procedure, using a complaint handling log allows for patterns to be identified. This in turn, enables a company to prevent similar issues from arising in the future. Simply put, complaint procedure templates, logs and complaint response examples offer consistency and clarity.
Businesses with anti money laundering obligations are required to carry out a risk assessment. Most importantly, the aim of this is to identify, assess and mitigate risks associated with financial crime. The FCA and HMRC are two of the bodies acting as supervisory authorities for the MLR. For instance, both have rules and guidance on the risk assessment process.
The Government is currently seeking feedback on their intended amendments to the UK’s Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The consultation closes on 14th October 2021 with changes likely to be enforced from Spring 2022.
TCF Explained What is Treating Customers Fairly (TCF) is not a straightforward question to answer! Coined by the financial services industry, this ethos has far reaching implications for how compliant and effective a business is. Simply put, TCF is about ensuring that consumers get a fair and relevant product or service, and that the regulatory […]
Firms who are required to be authorised by the FCA must go through the FCA authorisation application process. This involves ensuring that a detailed and structured compliance program is in place containing all the mandatory FCA policies and procedures. One of the most useful documents when going through the FCA authorisation process are the FCA’s […]