Financial Promotions Solutions with ComplyPortal:

Financial Promotions Workflow

Features:

Get started quickly with our default workflow options or work with us to build a bespoke workflow that suits your needs based on one of our own templates or a custom workflow from your own internal processes.

Create a multi-step process and route whereby tasks are assigned to individuals or groups and notifications are automatically sent.

–            Requesting a Financial Promotion to be approved

–            Reporting on your Financial Promotions

–            Getting your Financial Promotions approved

–            Tracking responsibilities and completion status

–            Embed Document Scanning AI review

–            Full overview of start to finish from request, feedback to final approval

All of these workflows are recorded on the system and available for reporting.

Benefits:

–            Simplified, linear process

–            Keep track of progress and responsibility

–            Faster turnaround times

–            Efficient and consistent protocols

–            Bespoke workflow to fit Internal approvals process

Financial Promotions Checklist Questionnaire

Features:

Provides a comprehensive checklist against relevant Financial Promotion regulation. Forms are updated by our compliance professionals to keep up with rapidly evolving regulatory landscape.

Test your compliance monitoring process are working as intended with look back self-assessments guided by our monitoring template:

·       Regulatory Compliance: Ensure all financial promotions meet UK financial and AIFMD marketing regulations, including compliance with COBS, SUP, and FSMA requirements across different types of investments (MiFID, Non-Mass Market Investments, Restricted Mass Market Investments).

·       Fair and Clear Communications: Verify that all communications and financial promotions are fair, clear, and not misleading as stipulated in COBS 4.2.1R.

·       Performance and Comparisons: Ensure that any information on past or future performance, tax treatments, and comparisons meets COBS 4.5A requirements, including clarity on assumptions and sources.

·       Risk and Incentive Disclosures: Include appropriate risk warnings and restrict incentives in promotions of Restricted Mass Market Investments and Non-Mass Market Investments unless specific exemptions apply.

·       Documentation and Reporting: Maintain records of all financial promotions for five years and submit required information and amendments to the FCA as outlined in SUP 16.31.

·       Approval Processes: Confirm that financial promotions, especially for unauthorised firms, have necessary approvals and comply with regulatory frameworks, with periodic attestations and bi-annual reporting to the FCA.

·       Review and Update: Regularly review and update compliance processes, distribution lists, and the Financial Promotion Register for accuracy and completeness.

This checklist ensures thorough monitoring of financial promotions in alignment with stringent regulatory standards.

Benefits:

–            Updated regulatory information

–            Consistent reviews

–            Reportable questionnaire answers

–            Standardisaton & centralisation of legal and compliance requirements

–            Reduction of human bias & errors through consistent reviews

–            Streamline marketing – compliance communications

Reporting

Features:

Every Financial Promotions workflow, approval and completed questionnaire is recorded onto the system.

This creates an accessible central data store for thorough reports to be easily exported and made available for review/audit.

–            Custom fields with capacity for specific reporting

–            Export as Table, Excel, PDF

–            Provide clear audit trail

–            Report by time period

–            Report by completion status

–            Monitor employee usage

Benefits:

–            Reports fit to custom requirements

–            Information recorded since 1^st ever entry

–            Provide valuable evidence of compliant processes

–            Instantly created and displayed with a clear audit trail

Best Practice: An Integrated Approach

Using ComplyPortal to manage your Financial Promotions approval processes will significantly improve your capacity to demonstrate compliance. This approach ensures a clear and consistent audit trail and generates comprehensive reports.

Lock down and ensure your processes are being followed, detailed questionnaires and technology help check against regulatory requirements. This leads to higher quality and consistency across Financial Promotion approvals.

Scheduled monitoring or look backs to audit your internal processes ensures a robust approach to maintaining compliance.

The ability to view and export detailed reports creates the capacity to review processes and demonstrate compliance helping to improve operations and provide the FCA with necessary evidence.

Overall, combining these three solutions creates organisational protocols that are efficient, consistent & compliant.

To see how these solutions can improve your Financial Promotions processes:

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