Navigating the complex landscape of regulatory compliance is essential for technology, fintech, and finance-focused SMEs, especially in markets like the UK, where regulations are stringent and continuously evolving. Adramyt specialises in financial regulation compliance, providing clients with a comprehensive approach to meeting regulatory standards and mitigating compliance risks. Our expertise in this area empowers businesses to operate with confidence, knowing they are fully aligned with the latest regulatory requirements.

Key Areas of Regulatory Compliance Services:

1. Financial Conduct Authority (FCA) Compliance

   • The FCA oversees financial markets in the UK, enforcing regulations to protect consumers and ensure market integrity. Adramyt supports clients in meeting FCA requirements, from authorisation to ongoing compliance obligations.
   • Conduct Rules Training and Implementation: We offer training programs and conduct framework implementation, ensuring that employees adhere to FCA’s Conduct Rules, reducing the risk of regulatory breaches.
   • Regular Compliance Audits: Our team conducts compliance audits to identify any regulatory gaps, providing actionable recommendations to align with FCA standards.

2. Anti-Money Laundering (AML) and Know Your Customer (KYC) Compliance

   • Fintech and financial services are particularly vulnerable to money laundering and fraud risks. Adramyt assists in developing robust AML and KYC protocols, ensuring clients are protected against financial crime and are fully compliant with UK regulations.
   • Risk-Based Approach to AML: We implement a risk-based approach to AML, categorising clients and transactions by risk level to focus resources on high-risk areas.
   • Enhanced Due Diligence (EDD): For high-risk customers, we offer EDD procedures, ensuring in-depth verification and scrutiny to prevent financial crime.

3. Data Protection and GDPR Compliance

   • With data privacy a significant regulatory focus, adherence to the General Data Protection Regulation (GDPR) is non-negotiable for businesses operating in the UK and Europe. Adramyt provides a structured GDPR compliance framework tailored to fintech and tech SMEs, covering everything from data collection to processing and storage.
   • Data Mapping and Risk Assessment: We conduct data mapping exercises to identify and categorise personal data within the organisation, assessing risks related to data handling and storage.
   • Privacy Impact Assessments (PIA): Adramyt assists in conducting PIAs to evaluate the potential impact of data processing activities on privacy, identifying risks and mitigation strategies to ensure compliance.

4. Payment Services and PSD2 Compliance

   • For fintech companies providing payment services, compliance with the Revised Payment Services Directive (PSD2) is essential. We help clients implement the necessary technical and procedural safeguards, ensuring secure transactions and customer authentication as per PSD2 guidelines.
   • Strong Customer Authentication (SCA): Adramyt advises on SCA measures, helping clients implement multi-factor authentication solutions to meet PSD2 requirements.
   • Transaction Monitoring and Reporting: We assist clients in establishing transaction monitoring systems that detect unusual or suspicious activity, ensuring compliance with PSD2’s reporting obligations.

5. Ongoing Monitoring and Regulatory Reporting

   • Regulatory requirements often necessitate regular monitoring and timely reporting to avoid penalties and maintain compliance. Adramyt supports clients with ongoing monitoring tools and systems, including regulatory updates, risk assessments, and automated reporting solutions.
   • Regulatory Reporting Systems: We implement and optimise regulatory reporting systems tailored to the financial services sector, ensuring accurate and timely submission of required data to relevant authorities.
   • Compliance Management Systems: Our customised compliance management systems provide continuous oversight of compliance activities, helping businesses stay on track with their regulatory obligations.

6. Risk Management and Incident Response

   • In the face of regulatory breaches or cybersecurity incidents, an effective response strategy is crucial. Adramyt assists clients in developing risk management and incident response plans that include regulatory reporting, remediation measures, and risk mitigation tactics.
   • Incident Reporting Frameworks: We establish incident reporting protocols aligned with regulatory requirements, ensuring swift action and transparent communication with regulators.
   • Remediation and Corrective Action Plans: For identified compliance issues, Adramyt provides corrective action plans, helping clients promptly address and resolve regulatory concerns.