Our Services

Discover MCB's Expertise

MCB’s services aims to address the lack of specialised, targeted compliance-related advisory and consultancy service offering in the UK cryptoasset market. MCB has identified a gap whereby existing competitors either offer a broad array of services targeting multiple sectors or a broad array of services targeting the cryptoasset sector, with a potential dilution in quality. Competition mainly arises from established management consultancy firms diversifying into the ‘Risk and Compliance’ service line, or small to medium-sized compliance consultancies with a fragmented service offering.

Whilst the Financial Conduct Authority (2021) have stated that it is not currently a regulatory requirement for UK-based firms to use compliance consultants, MCB provides an array of services pertaining to compliance support. These include, but are not limited to:

  1. initial risk assessment;

  2. business development;

  3. help with procedures;

  4. file audits;

  5. technical support; and/or

  6. training.

To reassure clients whom are considering procuring compliance consultancy service, MCB will:

provide an appropriate level of service;

ensure the relationship and extent of the services provided should is driven by clients; and

provide all necessary data, information and documentation to help clients monitor the quality and appropriateness of the services provided.

 

Types of Services

Advice-Only

Risk-Based Advice

Offering guidance and/or recommendations to clients in certain key areas of focus based on their business requirements, needs and objectives.

Consulting

Expert Advice

Providing advice and other purposeful activities in an area (or areas) of specialisation.

Surveillance

Monitor Your Business

Monitoring of behaviour, activities, and/or information for the purpose of information gathering, influencing, managing or directing

Monitoring

Quality Assurance Checks

Performing quality assurance tests of firms to check how well their business operations meet their regulatory and internal process obligations

Structuring

Protect Your Service Offering

Development of processes, policies and procedures to identify and minimise applicable risks.

Managed Service

Gain Assistance With Regulatory Obligations/Responsibilities

Assuming responsibility on behalf of clients for maintaining, and anticipating the need for, a range of processes and functions in order to, for example, improve operations and cut expenses.

 

Service Line Areas

Areas Of Specialisation

Compliance

Description: Services provided to mitigate or eliminate the risk of legal or regulatory sanctions, material financial loss, or loss to reputation a bank may suffer as a result of its failure to comply with laws, regulations, rules, related self-regulatory organization standards, and codes of conduct applicable to its banking activities.

Scope

All key issues arising from the following non-exhaustive concepts:

  1. Compliance risk.

  2. Compliance function.

  3. Compliance department.

  4. Compliance Officer.

  5. Compliance culture.

Service Lines

  1. Authorisations, Applications and/or Permissions

  2. Complaint Handling

  3. Compliance Advice

  4. Compliance Consulting

  5. Compliance Services

  6. Compliance Support

  7. Contracting and/or Interim

  8. Cryptoasset Classification

  9. Documentation

  10. Due Diligence

  11. Expert Witness

  12. File Reviews and/or Monitoring

  13. Money Laundering and/or Financial Crime

  14. Payment Services Regulation and/or Compliance

Regulation

Description: Services that mitigate or eliminate the effect of a change in laws and regulations that could potentially cause losses to a client’s business, sector or market.

Scope: All key issues arising from the differentiated nature of financial regulation in the cryptoasset sector.

Service Lines

  1. Regulator Relationship Management

  2. Regulatory Advice

  3. Regulatory Change

  4. Regulatory Consulting

  5. Regulatory Returns

  6. Regulatory Updates

Compliance and Regulation

Description: Services that comprise elements of both Compliance and Regulation.

Scope: Matter that straddle both Compliance and Regulation.

Service Lines

  1. Risk Management

  2. Strategy

  3. Training and Development

 

Service Lines

Financial Services Regulation

Authorisations, Applications and/or Permissions

Compliance

Assisting clients with submitting their applications to the financial regulator(s) for the relevant permission(s) to acquire necessary authorisation(s). Services include, but are not limited to:

  1. Pre-application consultancy;

  2. Construction of application pack;

  3. Post-submission queries; and

  4. Provision of appropriate compliance documentation.

Complaint Handling

Compliance

To ensure that customer complaints are dealt with efficiently, expediently and appropriately, and, where relevant, in accordance with the applicable regulatory requirement(s).

Compliance Advice

Compliance

Provision sound advice in relation to compliance matters and that any project work undertaken considers all applicable compliance, legislative and best practice requirements.

Compliance Consulting

Compliance

Advisory and/or implementation services to the compliance arrangements of the firm with the aim of improving the effectiveness of their business strategy, compliance performance and compliance processes.

Compliance Services

Compliance

General services provided to mitigate or eliminate the risk of legal or regulatory sanctions, material financial loss, or loss to reputation a bank may suffer as a result of its failure to comply with laws, regulations, rules, related self-regulatory organization standards, and codes of conduct applicable to its banking activities.

Compliance Support

Compliance

Support in regards to services provided to mitigate or eliminate the risk of legal or regulatory sanctions, material financial loss, or loss to reputation a bank may suffer as a result of its failure to comply with laws, regulations, rules, related self-regulatory organization standards, and codes of conduct applicable to its banking activities.

Contracting and/or Interim

Compliance

Providing resources to assume responsibility on behalf of clients for maintaining, and anticipating the need for, a range of processes and functions in order to improve operations and cut expenses.

Cryptoasset Classification

Item Subtitle

Classification of a cryptoasset based on the applicable financial service regulatory framework.

Documentation

Compliance

Ensure that templates for regulatory documentation contain all the required clauses.

Due Diligence

Compliance

Conducting both Pre-Emptive and Post-Transactional due-diligence.

  1. Pre-Emptive: allows business leaders and investors to evaluate the disclosure provided by the target company and consider whether the investment is sound.

  2. Post-Transactional: rectifies the surprises and problems, post-transaction, that put a company at risk of loss.

Expert Witness

Compliance

Provision of specialist advice or expert reports. MCB’s independent verification services are, generally, called on in litigation or as part of a dispute resolution. MCB offers impartial expert opinion relating to evidence or facts to be put before the court, using extensive knowledge and a wealth of experience.

File Reviews and/or Monitoring

Compliance

Ensure that a client has all appropriate policies and procedures so that staff are aware of the regulatory and best practice standards to which they must adhere in performing their activities.

Money Laundering and/or Financial Crime

Compliance

Provision of services pertaining to compliance with all regulatory requirements and obligations concerning money laundering and/or financial crime. Services include, but are limited to:

  1. Registration;

  2. Risk assessments; and/or

  3. Internal, policies and procedures.

Payment Services Regulation and/or Compliance

Compliance

Provision of services pertaining to compliance with all regulatory requirements and obligations concerning Payment Services Regulation and/or general compliance matters.

Regulator Relationship Management

Regulation

Maintenance of good relations with regulators and regulatory bodies of relevance to a client.

Regulatory Advice

Regulation

Provision of sound advice in relation to regulatory matters and that any project work undertaken considers all applicable regulatory, legislative and best practice requirements.

Regulatory Change

Regulation

Maintaining a thorough understanding of legislative, regulatory and industry developments that affect a client.

Regulatory Consulting

Regulation

Advisory and/or implementation services to the regulatory arrangements of a client with the aim of improving the effectiveness of their business strategy, regulatory performance and regulatory processes.

Regulatory Returns

Regulation

Ensure that all regular reports to financial regulators are made on a timely basis and contain all required information.

Regulatory Updates

Regulation

Ensure that clients comply with all relevant Compliance requirements.

Risk Management

Compliance and Regulation

Developing clients risk management capabilities and to identify necessary actions related to business performance, regulatory scrutiny, enforcement actions, stakeholder activity, or other adverse scenarios.

Strategy

Compliance and Regulation

Supporting clients with the development of corporate, organisational or functional strategies for financial services regulatory compliance.

Training and Development

Compliance and Regulation

Provision of training programmes to ensure that staff are aware of the Compliance requirements that are applicable to them, and that staff achieve and maintain the required competency for the roles they are performing.

 

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