COMPLIANCE SERVICES

Every business has to be compliant and adhere to specific regulatory bodies. In the financial industry a firm’s compliance is vital for creating trust among its clients. Overall a company needs to run its compliance smoothly for many reasons including:

  • CUSTOMER ASSURANCE

    assuring that customer investments and trading activities are being monitored against fraud or misuse of funds.

  • RISK MITIGATION

    protection against litigation.

  • TIME MANAGEMENT & REPORTING

    following compliance procedures and ensuring crucial regulatory reporting requirements are duly completed and filed.

TAILORED COMPLIANCE PACKAGES

Our outsourced consulting process can be tailored to your company’s needs. We can put in place and oversee all necessary requirements of your regulator. Our services include:

ICAAP

In Cyprus the ICAAP is a requirement of every CIF and is evaluated by CySEC using their Supervisory Review and Evaluation Process (SREP).

The “Internal Capital Adequacy Assessment Process” (ICAAP) is an overall assessment of risks that includes quantitative and qualitative factors, against the Capital management of the company to ensure that there is sufficient Capital to cover each risk.

WHAT CAN FAI DO?

  • ICAAP Design, Preparation, Implementation and documentation
  • Ensuring thoroughness and fairness to the nature, scale and complexity of the Firm’s activities
  • Identifying and assessing all material risks and controls to mitigate risks
  • Identifying the amount and quality of internal capital in relation to risk profile, strategies and business plan and create a proposal for a capital allocation
  • Provision of ICAAP training to relevant employees and Senior Management
  • ICAAP follow-up through Supervisory Review and Evaluation Process of CySEC