FSA Compliance Monitioring - Compliance Plan
FSA Compliance Monitioring
Ongoing Compliance - A FSA Compliance Monitoring Plan
Having a FSA Compliance Monitoring Plan (otherwise known as a Compliance Plan) is essential for all regulated firms. The regulator can ask for a copy of your firm’s plan at any time, as they do when you make your initial application for authorisation and also when you apply to do certain other things, for example to vary your permissions.
It is an FSA stipulation that all firms maintain this FSA Compliance Monitioring document in a way that is relevant and continues to be relevant to their own firm.
This FSA Compliance Monitioring document needs to be updated periodically as changes occur in the business, especially after the annual FSA Compliance Report has been made to the senior management of your firm.
Keeping up to date records of what you do throughout the year will really help you keep your FSA Compliance Monitoring Plan up to date and allow you to easily compile the annual FSA Compliance Report.
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