FinTech

Our specialist FinTech team has built extensive knowledge and experience working with innovative Crowdfunding, Peer-to-Peer (P2P) Lending and Investment Management firms through to Payment Services and e-money firms.

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Our expertise

The term ‘FinTech’ represents a broad range of businesses, from unregulated crypto exchanges to crowd funding platforms, open banking services to innovative cross border payment solutions. The result is a wide variety of business models and the associated regulatory licenses that accompany them.

Our team has supported many FinTech firms in understanding the level of regulation they require and the best approach to take, be it through the FCA regulatory sandbox cohort or Innovation Hub or submitting a standard application for authorisation. Once the best route is established our team can assist you in determining how your business will be categorised by the regulators and support you in providing the information they expect from you.

FCA authorisations and application services

We can support FinTech firms with all aspects of their compliance.

FCA Authorisation & Registration

We have managed over 1,500 successful FCA applications across all sectors and frequently interact with the FCA to keep our understanding of its requirements fresh and up to date.

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FCA Sandbox

The FCA Sandbox is open to authorised firms, unauthorised firms that require authorisation and technology businesses that are looking to deliver innovation in the UK financial services market. Cosegic can help firms prepare their application to enter the FCA Sandbox and help them navigate through to successful authorisation.

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5MLD Registration

If you are a cryptoasset firm, you must be registered under the fifth Money Laundering Directive (5MLD) if you intend to provide certain types of cryptoasset services in the UK. We can support you with the registration process and keep you providing certain cryptoasset services by way of business in the United Kingdom

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Ongoing compliance support and regulatory projects

Regulatory Reporting

Regulatory reporting is the main regular communication the FCA has with most firms. Mistakes in regulatory reporting can lead the FCA to conclude that the firm’s controls are not at an appropriate level, and lead to further investigation. We can help ensure that firms get it right the first time.

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Consumer Duty

A wide range of services options to support all firms with the implementation of the new Consumer Duty.

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Compliance Healthcheck

Our Compliance Healthcheck gives you comfort and peace of mind that you have appropriate compliance arrangements in place.

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Training

Ensuring your management and staff receive appropriate compliance training is a requirement of the FCA’s regulations. We offer two options, online training courses using our Cosegic Portal software and bespoke classroom training and workshops

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Financial Crime

Under UK legislation, relevant firms must be able to demonstrate that they have robust governance, effective risk procedures and adequate internal control mechanisms to manage their financial crime risk. We help a broad range of firms across all financial sectors, with a special emphasis on those organisations for whom financial crime is especially complex and demanding.

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Ongoing Compliance Support

Cosegic support hundreds of firms with their ongoing compliance requirements, be it through regular compliance monitoring, online and classroom training, compliance assurance reviews or carrying out remediation required to meet regulatory obligations.

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Notifications

Guidance for firms on submitting notifications to the FCA.

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Why choose Cosegic?

Our 360 degree perspective of regulatory affairs

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Our 360 degree perspective of regulatory affairs

Our wide range of financial sector experts come together on a regular basis to discuss their interactions with the FCA and the regulatory trends that they are seeing, providing us with a more informed understanding of the FCA than our competitors.

Direct, proportionate advice

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Direct, proportionate advice

Our unique perspective means we really do have our fingers on the pulse of regulation, which helps us to ensure that the advice we offer is practical, helpful and directly proportionate to our clients’ needs.

Our understanding of the role of compliance in firms

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Our understanding of the role of compliance in firms

We have watched the evolution of compliance over the past twenty years and understand that compliance must now become a core part of how financial services carry out their businesses in order for them to be successful.

Compliance confidence for visionary growth

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Compliance confidence for visionary growth

In recognising this, our services have been built in a way that can help you navigate regulation ensuring you will keep your vision and objectives intact. Our breadth of experience allows us to balance your business objectives with your compliance requirements.

We're experts in our field

Meet John Burns, Senior Advisor of our Payment Services practice. John is one of the UK’s foremost compliance experts in payment services, and he is Senior Advisor in our Payment Services Practice. Assisting Banks, Payment Institutions and E-money Institutions manage their compliance and plan their future commercial strategies in the light of changing regulations, and has unparalleled experience of relevant payments legislation and regulation.

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