Find out more about how ComplyPortal’s Approvals module can make your firms approval processes more efficient and compliant.

All organisations must manage and control approval processes efficiently to avoid becoming a bottleneck in daily operations. Time is money and juggling multiple approval requests with the added challenge of remote work environments is no mean feat. With the tightening and introducing of new regulations, such as the FCA’s new Approval Gateway for Financial Promotions, and with the new Consumer Duty now in full effect for regulated firms, having a transparent and simple approval process with a full audit trail is now vital. Tracking approvals through traditional methods like email is increasingly difficult or even impossible given the volume and complexity of business needs today.

Read on for more information about how our software makes managing and reporting Approvals much easier.

Who is it for: All staff required to submit for approval, compliance officers and senior management responsible for granting approvals.

Key features:

  • Ready-to-use registers for Gifts and Inducements, Incident Reports, Personal Account Dealing, Conflict Checks, Broker Onboarding, and Financial Promotions
  • Route requests to defined individuals or groups for approval
  • Easily fit to bespoke workflow for multiple approval levels
  • Notifications and alerts to make sure approval requests are reviewed and signed off efficiently
  • Robust audit trail for ease of demonstrating compliance
  • Option to add bespoke registers specific to your organisation’s needs
  • Straightforward layout and operation for ease of use

How it benefits you:

Keeping accurate, easily accessible, and organised records of transaction approvals is an important element of compliance management. This not only creates clear audit trails for the regulator, but also helps keep your internal operations running smoothly by promoting transparency and ease of access within your own organisation. Making compliance concepts and processes more understandable and accessible helps to create a culture of compliance throughout your whole organisation.

The Compliance Perspective:

Regulations and good corporate governance require personnel to seek approval for various actions from Compliance or other senior people.

Regulators will check whether the approval request is clear, what time it was submitted, by whom, what was requested, who approved it and why, whether any changes were required and the time of approval. Therefore, making sure that you have clear records of approvals, and any declinatures, is crucial.

“Recording such information on paper or elsewhere is prone to errors. As such, having a dedicated tool to assist with meeting regulatory expectations is a powerful resource for regulated firms.” – Simon Chapman, Director at Complyport

Find out more about our Monitoring module and the rest of the ComplyPortal platform at: https://complyportal.uk/modules

About ComplyPortal – Compliance software since 2011:

First developed in 2011 by compliance professionals for compliance officers, ComplyPortal offers workflow, automation, and several modules to help firms with control and regulatory compliance monitoring.

ComplyPortal simplifies financial services regulatory compliance management on an easy-to-use cloud-based comprehensive compliance platform. It enables compliance officers, risk officers and senior management to keep track of their firm’s regulatory responsibilities and workflows. Our platform includes the following modules, among others:

  • Monitoring: a year-round schedule pre-populated with monitoring questionnaires to ease compliance processes.
  • Registers: lists controlled by the Compliance officer, but easy for staff to view.
  • Risk: map and control risk areas to effectively identify and manage risk for your firm.
  • Training: access our LMS platform for all Compliance and Governance Training

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