As a result Exweb’s Compliance Centre now has services available from two of the leading support services groups in the financial services market.
The Compliance Club is an easy to use compliance service designed to fulfil current FSA regulatory requirements and provide all the information and support needed for effective compliance systems and controls. It is powered by IFA Professional Services Ltd, a leading supplier of support services to the IFA community and part of the Tenet group. Accessibility via The Exchange’s market leading Exweb portal ensures it is constantly updated with the latest information when it is required by the IFA.
A flat rate monthly fee gives IFAs access to briefing notes on regulatory issues, compliance plans and manuals and terms of business documents. In addition, a telephone helpdesk can provide guidance and advice on all Regulatory Rule issues and any current Consultation Papers or proposed rulings. It can also guide IFAs through the FSA Handbook, CD-ROM and website, as well as any other compliance matter IFAs may have concerns over.
A range of additional services can be provided as an ongoing enhancement to an IFA’s existing subscription or a pay as you go option to use when business needs dictate. These services cover a wide range of advanced regulatory issues including training and competence, onsite audits, FSA visit support and complaints investigation.
David Child, chief operating officer at The Exchange, comments:
“The onset of depolarisation and other regulatory reviews such as Sandler are set to increase the regulatory burden imposed upon IFA businesses. The Compliance Centre on Exweb was created to help manage this burden by providing a range of compliance and support services that meet the needs of all types of intermediary firms. We believe the new Compliance Club offers significant business benefits to our users.”
Simon Hudson, chief executive of Tenet said:
"The Tenet Group is delighted to be working with The Exchange on this proposition. The market is so dynamic at the present time we believe the demand for a simple, cost effective but fully scalable service will be compelling."
