Retail financial services represent an important sector in the UK financial industry and large institutions now share the market with small and medium-size firms competing to provide retail financial services to individual consumers.  

Whether you are an existing retail financial services firm, or newly applying for authorisation, or are an overseas retail financial services provider seeking to enter the UK regulated market, at Complyport we bring together our specialist knowledge and experience of compliance, regulation, and due diligence to offer clients the opportunity to navigate the increasingly complex regulatory environment. 

All FCA regulated firms that provide products and services to or have any material influence on the retail market must now comply with the Consumer Duty. Specifically, these firms must ensure proper governance, systems and controls, policies, and procedures are updated to meet these obligations.  

How Complyport can help?

We have over 22 years’ experience helping firms navigate and interpret complicated regulations, such as the Consumer Duty. Retail financial service providers we support include: 

• Insurance broking; 
• Mortgage broking; 
• Financial planning and advice; 
• Consumer credit broking; 
• Wealth management; and 
• Retail Financial Services distribution. 

Our experienced team closely monitor the regulatory landscape and help our clients to maintain the highest levels of regulatory compliance. 

• Our team help firms to deliver on the FCA’s standards for good consumer outcomes. 
• Implementation of the Consumer Duty rules to ensure firm-wide compliance. 
• Ensuring that robust financial crime prevention is in place. 
• Establishing solid anti-market abuse mechanisms and controls. 
• Identifying specific risks relevant to the client and assessing mitigation. 
• Creation of a firm-wide regulatory risk framework that aligns with the relevant client’s business model and risk appetite. 
• Establishing solid operational resilience. 
• Delivering training in person or virtually to staff and senior management to satisfy the FCA’s training requirements. 
• Authorisation and assessment of senior management roles, certified to provide retail financial services. 
• Ongoing advisory services for ad-hoc questions or queries that may arise in the natural course of business.