But these three steps will help make the process easier…

If you are operating within the financial services sector, either asset finance or commercial finance for instance, then like us, you will probably have seen an increasing number of authorative looking advertisements offering you what appear to be short cuts to making your business conform to the latest financial services compliance regulations.

Take our word for it, as a member of one of the UK’s leading business finance provider groups we can categorically confirm that THERE ARE NO LEGITIMATE SHORT CUTS!

What we can advise though is that we have made a thorough professional appraisal of this complex subject and if you use the three steps we recommend then we can, without doubt, help you make your financial services compliance process far, far easier.


Step 1.  Invest Time

Investing time means stepping back and taking the time to really understand the Principles and Rules that the Regulator insists you must abide by.

It also means taking time to thoroughly understand your business and to be aware of how and where these Principles and Rules impact on it.

Then you need to invest more time to ensure you generate the best policies and procedures that will enable you to identify, monitor and if necessary improve those areas where your business is affected by the Principles and Rules.  Most importantly of all, it will enable you to provide vital financial services compliance evidence should it ever be required.


Step 2.  Extend your Communication

Following your own assessment of your business practices you should refine the systems and processes in order to fully comply with the Regulator’s expectations.

In addition though you also need to communicate your financial services compliance processes – not only internally to your staff, but also to all your customers and suppliers.

At the same time you need to elicit feedback from everyone and where identified you must be willing to adjust your business procedures to ensure you meet the expectations not only of the Regulator, but also those of your customers and staff.


Step 3.  Refine your culture

Arguably the most important stage in ensuring financial services compliance is for you to develop a culture within your business that ensures everyone is always looking to ‘do the right thing’.  That means they not only fully understand the Principles and Rules of the Regulator, but they are also constantly looking at ways to comply … and exceed them.

The thing that we at AFS Compliance can do to help you achieve financial services compliance is to share the work we have already done in order to assist you to achieve Steps 1 and 2.  When it comes to Step 3 then that is down to the business or individual … and it is crucial that they want to develop the right culture and to make financial services compliance happen.

If you would like to learn more about how we can help you to develop your business in the right way, to embrace the culture we have developed within our Group, and to be part of our ever-growing network of like-minded, ambitious individuals, then please do not hesitate to contact us.  You can call us on 01254 958777, you can email us at enquiries@afsuk.com or you can send us a message using the online form from our Contact Us page.

AFS Group, Asset Finance Solutions & AFS Compliance
  • Greenbank Court, Challenge Way, Greenbank Business Park, Blackburn, BB1 5QB
  • Tel: 01254 958777
Synergy Commercial Finance
  • Lindum Business Park, York Road, Elvington, York YO41 4XR
  • Tel: 01904 481786