We have extensive and in-depth experience of assisting clients with remedial activities - both as a pre-emptory measure and as a result of a specific direction from the regulator. This includes remedial work following FCA supervisory visits and advising in relation to section 166 actions.
Our recent experience includes leading on internal remediation project at a high-profile asset management firm - this assignment included the production of various detailed reports, liaison with the FSA, heavy interaction with senior management and fund managers and chairmanship of an internal committee, comprising the CEO, CFO, CIO, senior fund manager, General Counsel, Head of Compliance and Head of Dealing.
Our range of services includes:
- preparation for risk reviews/deep dives and thematic visits;
- post-review/deep dive/thematic visit remedial advice and assistance at: review and report stage; implementation phase; and post-implementation review stage;
- assisting clients in avoiding formal (and often very expensive) regulatory actions (e.g. a section 166 report), through pre-emptory measures; and
- helping clients to 'read between the lines' in interpreting messages from the regulator.