Policies and Procedures

However, the task of ensuring that policies and procedures are fit for purpose can be daunting. For smaller firms and start-ups, the initial creation of the suite of material is likely to be a significant undertaking in terms of time, and will inevitably call for considerable expertise, both in terms of understanding of the applicable requirements, but also the ability to articulate those requirements in a concise, yet comprehensive manner, such that they can be followed by those individuals within the firm responsible for the day to day delivery of its products and services. 

Furthermore, with regulatory requirements changing on a regular basis, ensuring policies and procedures keep pace with the regulatory environment presents an additional challenge. 

For larger firms, whilst the task of initially creating a suite of policies and procedures may be one they are equipped to undertake internally, confirming they have interpreted requirements correctly and in a manner consistent with their peers is likely to be of real value, ensuring the business does not become uncompetitive due to an overly zealous application of regulatory standards.

Finnovation’s team of compliance specialists can help firms meet these challenges. Our experts have extensive experience of helping firms create and implement policies and procedures that are both comprehensive and compliant, whilst also being business-focused, proportionate and pragmatic.

Depending on your needs, our experts can:

• Engage with your compliance, operations and management teams to help identify the areas that will need to be covered within your suite of policies and procedures;
• Provide guidance as to the core requirements that are applicable in each of these areas or even provide template documents setting out the key points you will need to cover;
• Work with your staff to create and implement the necessary policies and procedures to ensure you are complying with your obligations. 

In each case, our involvement will help ensure your business operates efficiently and compliantly.