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Principal Firm AR Compliance Support

Principal Firm AR Compliance Support

Laven’s experience in hosting appointed representatives for the last decade has brought an understanding of the rules and developed tools which help principal firms onboard and monitor their appointed representatives in line with the FCA’s expectations. Laven can assist FCA regulated firms in guiding and supporting the onboarding and ongoing monitoring of its appointed representatives.

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This usually lasts 5-6 hours and consists of discussions with senior management as well as other staff of the manager, based on their roles and responsibilities.

Utilise our Experience

Many principal firms struggle understanding the various requirements posed by SUP, COBS and SYSC and can easily miss important moments in the business cycle of an appointed representative (‘AR’) by not effectively monitoring relevant areas of compliance.

The hosting team has worked in developing key templates and tools, primarily available through Laven’s proprietary software, Laven Tech. By signing up to the AR ongoing support services, principal firms will be able to create a streamlined environment whereby the monitoring is tracked, recorded and audit trailed at all times.

We understand the importance of a principal firm’s involvement in the monitoring of its appointed representatives. Seamless reporting mechanisms form part of the offering, by making the principal firm a key user of the AR’s Laven Tech environment.

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Onboarding Support

Onboarding appointed representatives have defined conditions set out in the FCA handbook. A firm must consider the various risks it may be exposed to by onboarding an appointed representative and obtain sufficient information on the activities, financial soundness and governance arrangements so as to ensure the appointed representative is capable of supporting the regulatory requirements of the firm.

At Laven, we understand the risks a principal firm undertakes when onboarding a new AR. Our commercial awareness and regulatory expertise will help you make an informed decision as to whether the AR is prepared to undertake the regulated activities and set out the key areas of risk you will need to monitor on an ongoing basis.

Our Process

Analyse

Step 1

Understand the principle firms permission profile and build compliance framework for AR around the AR agreement.

Digitise

Step 2

Create an environment on Laven Tech for the Principle which can then be rolled out to their clients.

Prepare

Step 3

Prepare the annual reporting schedule, this includes attestations, PA dealing, financials, governance oversite all stored within Laven Tech.

Formalise

Step 4

Conduct frequent reviews of ARs in line with the principal’s risk assessment. This can be annually, biannually or quarterly depending on the risk profile of the Principal's ARs and their other requirements.

Here to help

Laven's vast experience in both compliance consulting and Hosting platforms positions us perfectly to help Principal firms in providing the most efficient and streamlined service to the companies under your umbrella. This service can be tailored to suit any requirements or budget you may have.

Contact Us

We are here to help. Contact us today to find out how we can assist your firm.

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