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

gillian@gemcompliance.com or natalia@gemcompliance.com

Edinburgh office

14 - 18 Hill Street
Tel +44 (0) 131 344 4318

London office

7 Stratford Place,
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


MiFID 2 Update

The 2nd EU Markets and Financial Instruments Directive (MiFID II) and MiFID Regulation (MiFIR) are due to be implemented in the UK on 3 January 2018. This is notwithstanding the recent notification of Article 50 on 29 March 2017 of the UK’s intention to leave the EU within two years.

The Financial Conduct Authority (‘FCA’) had issued four consultation papers up to the end of 2016 (CP 15/43, CP 16/19, CP 16/29, and CP 16/43 respectively) and in 2017 so far, one further consultation paper (CP17/8) and a Policy Statement (PS17/5). Its Application and Notification user guide have also been issued. At least one further policy statement is expected to be issued by June 2017.

Firms should ensure that they continue to actively plan for MiFID II/MiFIR implementation. This includes as a priority identifying if any new permissions will be required for January 2018. This is so that any applications for authorisation and/or variations of permission are submitted to the FCA on a timely basis at least six months before January and in the format expected by the regulator.

Previous Gem newsletters (in the library) have a high level summary of CP16/19 and CP16/29 in Issue 23 – August 16 and Issue 25 – October 16 respectively. Further topic specific briefings are being planned throughout 2017. For the most recent FCA updates on MiFID II implementation, this can be found at https://www.fca.org.uk/markets/mifid-ii.

In the meantime, if firms have any queries on MiFID II implementation please contact us in the normal manner.

Insurance Distribution Directive

The FCA has issued a Consultation Paper on the Insurance Distribution Directive due to come into effect early next year. For more information refer to our briefing note here.
Stacks Image 3192