Crypto-Compliance-as-a-Service (CCaaS)
Contributing to a thriving financial services industry that achieves a balance between technological innovation and regulatory compliance for the digital assets world.
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
Registration with Financial Conduct Authority (FCA) under the Money Laundering Regulations 2017 (MLRs 2017)
Performing risk assessments under the MLRs 2017
Drafting and maintaining policies and procedures under the MLRs 2017
Performing staff training under the MLRs 2017
Making disclosures to clients about the Financial Ombudsman Service (FOS) and Financial Services Compensation Scheme (FSCS) under the MLRs 2017
Compliance with record keeping requirements under the MLRs 2017
Adherence to reporting obligations under the MLRs 2017
Obligations under the Financial Services and Markets Act 2000 (FSMA 2000) for Security Tokens
Obligations under Electronic Money Regulations 2011 (EMRs 2011) for E-Money Tokens
Created needs
Compliance manual
Compliance Monitoring Plan
Compliance Procedures
Market Abuse Risk Assessment
Anti-Money Laundering (AML)/Countering the Financing of Terrorism (CFT) Risk Assessment
Initial Coin Offering (ICO) qualifying criteria
Token admission/listing criteria
Conflicts of Interest Policy
Rules Mapping
Anticipated needs
Authorisation requirements with associated threshold conditions
Prudential requirements, including capital and liquidity requirements, accounting and audit requirements
Requirements for maintenance and management of a reserve of assets
Orderly failure and insolvency requirements
Safeguarding arrangements for tokens
Systems, controls, risk management and governance
Notification and reporting
Record keeping
Conduct requirements
Financial crime requirements
Outsourcing requirements
Financial promotions review/approval process