Banks face a heavy burden of regulatory compliance. We lighten their load.

Ben Mason

Joint CEO

Sector Focus: Banking      

Ben Mason

Applying for a UK Banking Licence is a complex process and only appropriate for companies with the resources and tenacity to deal with the regulators' rigorous requirements. Find out more about Ben CLICK HERE

"It's well documented that banks now face an unparalleled level of regulation and regulatory change. The question is how they can they most efficiently address the challenges of risk management, corporate governance, financial crime, capital and liquidity planning, staff training and competence, the new senior persons regime, horizon planning, payments systems membership monopolies and conduct compliance?" Ben Mason, Joint CEO

The PRA and FCA are keen to assist applicants, supported by a political agenda that seeks to help reliable new banks enter the market. In recent years an average of around six banks per year had been authorised, but this number has been reducing since the credit crunch.

In March 2013 the old FSA published its 'Barriers to Entry' report, which detailed changes to the way the forthcoming FCA and PRA would progress new applications. These included a reduction in capital requirements for new banks and the provision of assistance at the pre-application stage in recognition of the huge difficulty applicants had in providing a complete licence application.

Compliancy Services has a high-calibre application team to help you manage your Banking Licence application from initial viability evaluation to navigating the complex and lengthy process.

  • Applicant businesses usually need to upgrade their internal governance
  • Executive & Non-Executive management appointments often required
  • IT systems receive heavy scrutiny from the regulators
  • Your business plan must present strong evidence of viability

A complete Banking Licence application is likely to include upwards of 100 documents and involve many meetings with the PRA and FCA.  These all need to be handled effectively if the applicant is to progress to full authorisation

 

Enquire About Our Compliance Consultancy Services

If you'd like to discuss your specific situation and how we may be able to help, please provide your contact details using the form below and a member of our team will get in touch. Or alternatively call us on 020 7060 4499.

 

 

 

 

New Broad Street House 35 New Broad Street London EC2M 1NH

Tel: 020 7060 4499 Email: info@compliancy-services.co.uk

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