Our team had just the right mix of in-depth regulatory knowledge and experience of managing regulatory change programmes. We developed a bespoke solution for our client, including:
- An in-depth review of our client’s business model and propositions
- Detailed ‘side-by-side’ analysis of the new and current rules in order to identify which rules represented a material change to the current regulatory framework.
- Identify the impact on our client – an Article 3 firm.
- Identify gaps in the current operating model and compliance framework
- Analysis of other forthcoming regulatory changes in order to ensure these were also accommodated by any actions taken
Having identified the gaps and key actions needed, we put together an action plan that our client’s internal team could easily roll out. While keeping implementation in-house meant cost savings for our client, we made sure that standards didn’t suffer by providing assurance and oversight. We double checked that changes to processes and procedures were all appropriate and that the project stayed on track, as well as providing training sessions for key stakeholders. This meant our client was ‘MiFID II ready’ well before the deadline, safe in the knowledge that all procedures, systems and controls were up-to-date.