Obtaining and maintaining the appropriate licences is a crucial step for regulated sector services companies. At Adramyt, we offer expert licence consultancy services tailored to the needs of technology-driven financial service providers seeking to navigate complex regulatory landscapes in the UK and internationally. Our deep knowledge of financial regulations, coupled with our practical approach to compliance, helps clients streamline the licensing process and maintain ongoing regulatory adherence.

Key Components of Our Licence Consultancy Services:

1. Licence Requirement Assessment
   • Understanding the specific licence requirements based on business operations, product offerings, and geographic markets is essential for regulatory compliance. Adramyt conducts a thorough assessment to determine the precise licensing needs of each client.
   • Regulatory Scope Evaluation: We assess the regulatory landscape relevant to each business, identifying required licences based on activities such as payment processing, e-money issuance, and investment advisory.
   • Jurisdictional Analysis: For businesses operating in multiple markets, we analyse licence requirements in each jurisdiction, ensuring full compliance with local and international regulations.
2. Application Preparation and Submission
   • The licensing process involves comprehensive documentation and detailed submissions to regulatory bodies, such as the Financial Conduct Authority (FCA) in the UK. Adramyt provides end-to-end support in preparing and submitting licence applications to ensure a smooth process.
   • Documentation Compilation: We help clients gather and organise all required documents, including business plans, financial forecasts, compliance policies, and internal procedures, ensuring that submissions meet regulatory standards.
   • Regulatory Liaison and Communication: Adramyt acts as a liaison with regulators, handling inquiries, addressing feedback, and facilitating clear communication throughout the application process to avoid delays and enhance approval likelihood.
3. Policy and Compliance Framework Development
   • A strong compliance framework is critical for obtaining and maintaining a financial licence. We work with clients to develop internal policies and compliance mechanisms that meet regulatory expectations, minimising compliance risks.
   • Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Policies: We assist in crafting AML and CTF policies that comply with regulatory standards, ensuring that financial crime risks are proactively managed.
   • Data Protection and Cybersecurity: Given the sensitivity of financial data, we develop robust data protection and cybersecurity protocols aligned with regulatory requirements such as GDPR, safeguarding client and customer information.
4. Risk Management and Internal Controls
   • Regulators require licensed entities to have effective risk management and internal control systems in place. Adramyt designs and implements risk management frameworks that address operational, financial, and compliance risks.
   • Internal Control Systems: We develop control mechanisms tailored to each client’s business model, covering areas such as transaction monitoring, customer verification, and financial reporting to ensure regulatory compliance.
   • Risk Assessment and Mitigation: Adramyt conducts comprehensive risk assessments, identifying potential vulnerabilities and advising on mitigation strategies to strengthen overall compliance readiness.
5. Ongoing Compliance and Licence Maintenance
   • Licence maintenance requires continuous adherence to regulatory obligations. Adramyt supports clients with ongoing compliance services to ensure that they remain fully compliant with changing regulations and licence conditions.
   • Regulatory Reporting and Monitoring: We implement systems for regular reporting to regulators, including financial statements, transaction reports, and suspicious activity reports, ensuring transparency and adherence to compliance requirements.
   • Licence Renewal and Amendments: We assist in the licence renewal process and advise on necessary amendments if business operations change, ensuring that clients maintain an active and valid licence at all times.
6. Audit Preparation and Regulatory Inspections
   • Licensed entities are often subject to audits and regulatory inspections. Adramyt prepares clients for these evaluations, ensuring that all compliance aspects are in order and addressing any potential regulatory concerns proactively.
   • Pre-Audit Assessments: We conduct pre-audit assessments to evaluate compliance status, providing recommendations to rectify any deficiencies before the audit.
   • Inspection Support and Remediation Plans: Adramyt provides on-site or remote support during regulatory inspections, as well as remediation plans to address any findings, helping clients meet regulatory expectations.
7. International Licensing Support and Cross-Border Compliance
   • For businesses looking to expand internationally, navigating the licensing requirements of multiple jurisdictions can be challenging. Adramyt offers cross-border licensing support, ensuring that clients meet regulatory expectations across all markets.
   • Global Regulatory Compliance: We provide guidance on global compliance requirements, including those set by the Financial Action Task Force (FATF) and regional regulatory bodies, ensuring that clients operate seamlessly in diverse jurisdictions.
   • Multi-Jurisdictional Licence Strategy: Our team develops a strategic licensing plan that considers the regulatory nuances of each target market, allowing clients to expand operations confidently and compliantly.