Compliance Ireland Regulatory Services Limited is a leading specialist adviser in the feild of MiFID. This page sets out their services. You can also read this information at http://www.complianceireland.com/MiFID_Firms.html.
See also:
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May 2009 letter to MiFID firms on ICAAP & Pillar 3 here
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MiFID Services Brochure here
ICAAP obligations: We have extensive experience of assisting firms draft, update and complete their ICAAP processes and documents. We have worked with Asset Managers (large and small), Collateralised Loan Obligation Issuers, Stockbrokers, Venture Capitalists firms, CFD trading firms, FX trading firms and many others. Read more
Pillar 3: The Financial Regulator has set a deadline of 30 June 2009 for publication by investment firms of their ‘Pillar 3’ disclosures. Many firms have yet to address this important issue. Disclosure of a firm’s internal capital allocations and risk management objectives may also be required for display on its website. We assist firms draft their Pillar 3 disclosures and help them satisfy their legal obligations without making unnecessary, confidential or proprietary disclosures which could have competitive consequences for their businesses. Read more
Non-Executive Director Services: We provide knowledgeable, business-focused individuals with current board experience and compliance expertise to provide an independent perspective to the regulated firm’s board. Click here for further details.
Authorisations & Licence Extensions: We assist firms to obtain or extend their authorisations. Whether you’re a start-up or an established business, we can provide an efficient, informed and cost-effective solution to obtaining or extending your firm’s authorisation.
Compliance and Operational Manuals: Writing bespoke compliance and operational manuals and procedures (for a wide variety of industry sectors). We have a full range of manuals which can be easily tailored to your business, bringing your procedural documentation up to date and in full compliance with the MiFID Regulations. Click here for further details.
Health Checks: We can provide operational and compliance risk assessments of your business, verifying capabilities, generating a risk map, highlighting gaps and suggesting best of breed improvements providing peace of mind for local management, the Board of Directors and group management.
Identifying Your Relevant Obligations: We help firms map out their offered services and so identify the exact rules and regulations impacting on their business (including additional codes and requirements such as the Supplemental Supervisory Requirements, Consumer Protection Code, Client Asset Requirements, etc.)
Mock Regulatory Inspections: We can review your firm’s operations from the same perspective as the Financial Regulator, providing you with valuable timely feedback and an opportunity to fortify your procedures in advance of a regulatory inspection visit.
Risk based Compliance Monitoring Plans: We can help you draft and implement the risk based compliance monitoring program needed to demonstrate the compliance checking that the MiFID Regulations require. For firms without a dedicated compliance resource, we can carry out the compliance programme and report to the board as an outsourced service.
Recent MiFID Assigments:
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Bank - MiFID operation review
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Stockbrokers - MiFID and CRD review, ongoing advice and Compliance Function review
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Financial Spread-betting Firm - full project management of MiFID application and non-executive director appointment
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Proprietary Trading Firm - IIA to MiFID mapping exercise, operational review, risk procedures and ongoing compliance advice
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Ongoing compliance advice: We provide on-tap regulatory expertise to enable you to respond positively and quickly to any compliance challenges your firm may face -
- Implementing new Financial Regulator requirements - input ranging from simple advice through to full-scope design and implementation project management;
- Handling contentious correspondence with the Financial Regulator;
- Updating Terms of Business documentation;
- Vetting of advertisements;
- Capital Requirements Directive reporting;
- Advising the firm in enforcement sanctions and compliance notice situations;
- Project managing inspections by the Financial Regulator and Data Protection Commissioner.
Training Services: We can provide you with bespoke training, delivered in-house to your staff focusing on your firm’s particular needs. Among the subjects we offer are:
- Understanding the Market in Financial Instruments Directive ("MiFID"),
- Capital Requirements Directive explained,
- Corporate Governance developments,
- Forthcoming financial regulation explained,
- Anti-Money Laundering / Counter-Financing of Terrorism training for staff,
- Data Protection
Recent MiFID Assigments:
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CLO Manager - migration from IIA to MiFID status
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Commodity Pool Operator - application of MiFID to business and gap analysis
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Property Investment Manager - advice on entering MiFID market
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Private Wealth Manager - full project management of MiFID application
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Service provider reviews: MiFID firms are required to monitor the standard of performance of critical business processes outsourced to service providers. Working for boards of directors and group management, we can generate appropriate metrics against which quality of service can be properly assessed and measure service levels received from external service providers.
Investment Disputes: We can assist you and your legal advisers preparing for litigation in the area of investment disputes, providing specialist litigation support and expert witness services.
Forensic Services: We can assist with investigations and assessments of complex investment and regulatory irregularities.
Data Protection: We can conduct privacy assessments and audits, assisting you to implement suitable internal controls and take remedial action.
Compliance Officer Support Services: As well as designing a bespoke Compliance Monitoring Plan for your firm, targeting your key compliance risks, we can assist the named Compliance Officer by implementing the monitoring programme and reporting to the Board of Directors.
Compliance Ireland brings together 40 years’ experience of law, accounting and fund/financial services in a boutique regulatory affairs practice.
Recent MiFID Assigments:
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Accountancy Firm conducting investment business - advice on entering MiFID market
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Bank - Investor dispute regarding alleged mis-selling of derivative instrument
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Various new market entrants - advice and project management
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