How Can We Help You?

We provide clients with a unique service offering to assist them in adapting and thriving in a financial services industry that adheres to three main pillars of financial regulation: (i) financial stability; (ii) market efficiency, transparency and integrity; and (ii) consumer protection.

MCB will assist you by addressing the following: (i) Pre-existing needs; (ii) Created needs; and (iii) Anticipated needs.

Pre-existing needs

  1. Registration with Financial Conduct Authority (FCA) under the Money Laundering Regulations 2017 (MLRs 2017)

  2. Performing risk assessments under the MLRs 2017

  3. Drafting and maintaining policies and procedures under the MLRs 2017

  4. Performing staff training under the MLRs 2017

  5. Making disclosures to clients about the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS) under the MLRs 2017

  6. Compliance with record keeping requirements under the MLRs 2017

  7. Adherence to reporting obligations under the MLRs 2017

  8. Obligations under the Financial Services and Markets Act 2000 (FSMA 2000) for Security Tokens

  9. Obligations under Electronic Money Regulations 2011 (EMRs 2011) for E-Money Tokens

Created needs 

  1. Compliance manual

  2. Compliance Monitoring Plan

  3. Compliance Procedures

  4. Market Abuse Risk Assessment

  5. Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT) Risk Assessment

  6. Initial Coin Offering (ICO) qualifying criteria

  7. Token admission/listing criteria

  8. Conflicts of Interest Policy

  9. Rules Mapping

Anticipated needs

  1. Authorisation requirements with associated threshold conditions

  2. Prudential requirements, including capital and liquidity requirements, accounting and audit requirements

  3. Requirements for maintenance and management of a reserve of assets

  4. Orderly failure and insolvency requirements

  5. Safeguarding arrangements for tokens

  6. Systems, controls, risk management and governance

  7. Notification and reporting

  8. Record keeping

  9. Conduct requirements

  10. Financial crime requirements

  11. Outsourcing requirements

  12. Financial promotions review/approval process

 

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