Welcome to Gem Compliance Consulting

A clear approach to financial services regulation
Gem Compliance provides a wide range of practical solutions, tailored to meet our clients' specific circumstances and regulatory risks.

We don’t offer ‘pre-packaged’ solutions. We will work from our standard material or adopt standard approaches which have been developed through a number of years experience working with different clients. However our solutions are designed to be appropriate and proportionate for each and every firm individually depending upon the nature, scale and complexity of the business.

In certain circumstances, we can provide a suitably qualified and experienced individual to act as a client's appointed Compliance Officer (CF 10) on a short-term or locum basis.

Our services are particularly geared towards new businesses seeking support on applying for FCA Authorisation for the first time, newly authorised firms and expanding businesses where the principals’ primary focus is likely to be on client-facing activities and on growing the business.

A key benefit of working with Gem Compliance is that regulators will recognise that you are working with an experienced and professional compliance consultancy to assist you in fulfilling your regulatory responsiblities.
Stacks Image 2220
Stacks Image 2225
Contact us
Please call Gillian Gallacher or Natalia Popova on +44 131 344 4318

Email
gillian@gemcompliance.com or natalia@gemcompliance.com

Edinburgh office

14 - 18 Hill Street
Edinburgh
EH2 3JZ
Tel +44 (0) 131 344 4318

London office

7 Stratford Place,
London,
W1C 1AY
Tel +44 (0) 207 947 4454
Gem Compliance Consulting is a member of the Association of Professional Compliance Consultants, a trade body active in enhancing the professional standards of compliance consultants.
Stacks Image 1232

News

FCA Thematic Review: Principals and their appointed representatives in the general insurance sector.

In its 2015/2016 Business Plan, the FCA committed to reviewing the role and actions of Principals in ensuring that they have robust procedures in place to select and effective monitor their Appointed Representatives (AR) in the general insurance sector. Under such arrangements, the authorised firm (the Principal) takes regulatory responsibility for the activities of an appointed representative which means that those AR firms are exempt from s. 19 of the Financial Services and Markets Act (2000) which requires firms to be authorised by the FCA to conduct regulated activities.

The FCA has issued a thematic review into such firms in the insurance industry. However the FCA also states that any firm which is a Principal to an AR should consider the general messages in its thematic review. Appointed Representatives may also find this review of interest.

Here is a link to a briefing note (GBN16/1) that Gem Compliance has issued regarding this thematic review.

MiFID 2

The Markets and Financial Instruments Directive (MiFID 2) is due to be implemented in the UK on 3 January 2018, notwithstanding the result of the UK Referendum to leave the EU given that any exit is likely to take place after MiFID implementation date. The FCA has recently issued a further Consultation Paper (CP 16/29) which is the third of its consultation papers on this implementation and is linked below.

Further information on CP 16/19 is also covered in more detail in Gem Compliance’s August 2016 newsletter.

During 2017 we intend to issue MiFID specific briefing notes giving further guidance to our clients on the areas that should be considered for MIFID implementation.

Link to Consultation Paper (CP 16/29)

FCA Statement on European Union referendum result

The FCA has issued a statement on the European Union referendum result which can be accessed here.
Stacks Image 3192