COMPLIANCE REVIEWS
Compliance Audits, Health Checks & Mock FCA Visits
FIT FOR
PURPOSE
COMPLIANCE FRAMEWORK
External reviews of your compliance framework help give your team confidence that your framework is still fit for purpose – and ready for what’s next.
As FCA scrutiny of governance, systems and controls continues to intensify, FCA authorised businesses can’t afford to fall behind.
Our reviews highlight strengths and weaknesses, identify risks, and give you practical recommendations to take forward.
Our assessments can be themed or cover the full breadth of your compliance and financial crime framework. We can focus just on documentation or also speak to your team to get a sense of how things are working in practice.
We provide a menu of options for you to select from so that you can ensure your review focusses on the areas of most value to you.
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Ahead of a regulatory visit or thematic review
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Following structural, operational or personnel changes
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To satisfy board or investor oversight requirements
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As part of your annual compliance cycle
THEMATIC REVIEWS
We tailor our compliance audits, health checks and mock FCA visits to your requirements. It can cover your firm's full compliance framework or focus on areas that are a particular prioity to you.
Popular compliance review themes at present include:
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Anti-money laundering and wider financial crime systems and controls
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Client Money and Assets (CASS) systems
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Governance, risk management and recordkeeping reviews
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AI and data governance assurance
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Financial promotions systems
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Consumer Duty compliance
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Board and committee effectiveness
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Conflicts of interest reviews
FAQS
What is a compliance health check for FCA firms?
A compliance health check is a structured review of your firm's systems, controls, and documentation to assess whether they meet current FCA expectations and best practice.
How often should compliance frameworks be reviewed?
At minimum, your framework should be reviewed annually - whether by your team or an external reviewer. It should be reviewed sooner if there are changes in regulation, business activity, or senior personnel.
What is included in a financial crime review?
A financial crime review typically covers AML and CTF controls, sanctions screening, customer due diligence (CDD), suspicious activity reporting, and governance arrangements.
How to prepare for a regulatory visit from the FCA
Ensure your policies and procedures are up to date, that you can evidence compliance monitoring, and that your senior managers understand their responsibilities. A health check can help identify and resolve gaps in advance.
What are common weaknesses found in compliance reviews?
We often find outdated policies, inconsistent monitoring, gaps in governance oversight, and insufficient documentation. Issues with how policies are followed or cultural issues that prevent compliance can also form part of findings.