The Greyline U.K. team includes former FCA supervisors with experience examining alternative asset managers, so we are well equipped to conduct your firm’s mock FCA exam.
An FCA exam is typically narrow in focus. Where a mock FCA exam is being undertaken as a precursor to an actual FCA visit, we aim to understand the nature of the visit and mimic this as closely as possible. These may be thematic visits focused on market abuse controls, financial crime controls or topical areas of interest, such as MiFID II research payment controls, best execution or the handling of personal data. Since FCA visits are typically discussion-led, preparation normally includes mock interviews with the individuals that the FCA requests to speak with. We also review any information requests, and review and comment on any information to be provided to the FCA.
Another style of FCA visit is the enforcement-led or intelligence-led visit, where there is a specific event or area of concern that prompts the visit. In this case, a very different approach is required to prepare. With our extensive experience in this area, Greyline can offer assistance in determining the nature of the visit and the most appropriate course of action.
If an actual FCA visit is not imminent, we work with the firm to achieve its desired type of mock FCA examination and outcome. In this case, one of our other services, such as a market abuse risk/controls assessment, MiFID II implementation review or an FCA health check, may be the more appropriate course of action.
New U.K. FCA Rules on Shareholder Engagement Come into Force
The FCA’s implementation of the revised Shareholder Rights Directive (SRD II) came into force today, 10 June 2019. This was consulted on by the FCA in CP19/07 back in January
