What does Mpac offer?
Management of the FSA Application Process
In accordance with our philosophy, Mpac is able to offer a bespoke service according to a client’s specific requirements. With regard to the application pack, this can range from high level advice on how to complete an application pack to detailed preparation and individual drafting. In addition we can provide the supporting documention required for applications, such as policy and procedure documents.
Risk Monitoring and Compliance Audits
With a regulatory regime, which bases its reliance on the identification and control of the risks within an organisation, senior management may find it useful to provide additional compliance support to the internal team. This can be done on an on-going basis (see Subscription Service) or on a specific project basis, for example the identification and measurement of risk for ICAAP (Internal Capital Adequacy Assessment Process).
Projects
Mpac is able to offer a project-based service, where we can also provide resource to compliment the existing staff. We are currently providing clients with, amongst more general compliance requirements, project support on the Markets in Financial Instruments Directive (MiFID) and the Capital Requirements Directive (CRD).
The Subscription Service
In addition to the above, what differentiates us from other compliance consultancies are three key services that together make up Mpac’s 'Subscription Service'.
1) Executive Briefing
A written executive briefing is regularly sent and will alert the firm to the regulatory issues that affect it, recommend courses of action to take, the priority to be applied and the cost/resource implications of making such regulatory changes. Additional compliance alerts are also provided on a timely basis if an issue is deemed to be of sufficient importance and there are specific implications for our clients.
2) Help Desk
We operate a help desk that will promptly and accurately answer regulatory questions and assist in the resolution of compliance issues brought to our attention. It can also be used on advising how best to inform regulators about issues arising within the firm. This service is available outside of normal working hours, including weekends.
3) Regulatory Health checks
Mpac will visit on a frequent basis to discuss developments and update our understanding of your business, particularly in relation to any previous regulatory updates and to provide advice on any specific issues. Our visits aim not only to ensure that rules and the ‘spirit’ of the rules are adhered to, equally importantly, we aim to inform the client of both the regulator’s expectations on management’s systems and controls, as well as benchmarking your regulatory processes to your peers. These visits also help Mpac to ensure that its executive briefing and help desk remain focused on the pertinent issues for the client.
Our work is not restricted to the UK and we have worked in other parts of Europe, the Middle East, US and Asia.
