PLC 365: Compliance Support Package
This service is designed to assist regulated firms achieve a risk based
approach and monitoring program for their business in a semi outsourced
Having a 'risk based approach' is mandatory for regulated firms which is
why PLC have a dedicated team who can help and assist you meet this
highly important criteria for your business.
WHO SHOULD USE PLC 365
Whether you are a private Bank, a corporate FX, Money remitter, Bureau
De Change or Payment institution firm - our systems are tailored to meet
the individual requirements of your business.
With PLC, you can rest assured that you are dealing with experts from
the financial and regulatory sector. Our unique approach will support
you in ensuring that your business is compliant and safeguarded.
WHAT IS INCLUDED
- Agent and Retail Risk Based File and transaction checking
PLC assist you in checking transactions on a monthly basis to ensure
consistency checks in KYC, AML, POCA, CTF, TCF and overall suitability.
- New PSD Agent/AR and Retail Client KYC
PLC conduct SOX testing and random checks on new clients that have been
taken on in the past 30 days. This is to ensure that the firms KYC/KYB
rules have been followed and ample checks have been done on the new
- Monthly Training & Compliance conference call
Regulated firms must ensure regular
compliance training for their staff. To assist our clients achieve this,
PLC conduct a half hour conference call for management and all staff to
attend, learn and share important information relating to compliance,
the firm, the regulators (FCA/HMRC) and general industry knowledge.
- MLRO Support
We offer a dedicated conferencing service that is accessible via
telephone and transcripts can be produced to demonstrate training has
Advice and Reporting Structures
We will advise the management of your firm on the best practice and
advise on the best way to manage risks, safeguard against potential
threats or concerns to your business.
Often MLRO/CF11 persons can be puzzled
on what is the regulatory requirement they are required to adhere to.
PLC offer support to MLRO’s on issues such as SAR reporting and general
management of their compliance duties.
- Quarterly Site visit
Subscribed clients are personally visited once a quarter to discuss the
position of their business, their compliance, staffing and personnel.