UK company compliance

At Eltoma Corporate Services, we have both knowledge and substantial number of years’ experience in the area of AML requirements. Our experience focuses on our international client base and Directive Dl144-2007-08 of 2012 & 2015/849 OF THE European Parliament 2015 regulations.

The UK plays a leading role in European and world finance. Money laundering presents a significant risk to the UK due to the complexity, size and reputation of its financial markets. UK law enforcement invested resources over a number of years in tackling money laundering, which largely generates proceeds in the form of cash. The Financial Conduct Authority (FCA) manages consumer protection and the integrity of the UK’s financial system. The FCA follows a risk-based approach to AML supervision, working closely with regulatory governmtental bodies to identify and mitigate current financial crime risks.

UK Know Your Client (KYC) requirements cover all major institutions such as banks and credit institutions; insurance companies; independent legal professionals, auditors, accountants, tax advisors, and insolvency practitioners; estate agents; casinos; high-value goods dealers; and trust or company service providers.

Eltoma can assist with the following services for fulfilling UK corporate compliance requirements:

Compliance checks at UK FCA level

Eltoma Corporate Services can carry out an assessment of your UK Company’s current compliance provisions to identify any areas your company may be required to address to ensure compliance. A comprehensive report on the findings will be supplied, with an action plan.

Pre-acquisition Due Diligence & new licence applications

Opening a subsidiary company is a big step for any business and the status of which may be the focus of FCA regulations that may affect your holding company’s good standing. Eltoma can assist by conducting a pre-acquisition compliance assessment and assist in obtaining the necessary permits in the new jurisdiction accordingly.

Drafting of risk mapping & risk management services

We can help to produce compliance and procedures manuals for data protection which are customised to your precise needs. We also provide training and competence schemes, compliance monitoring programmes, client letter templates, disclosure documents, business agreements and many other types of documentation you will need, in the form of risk mapping and risk management services.

New applications for Financial Conduct Authority authorisation

We can assist with the lengthy practice of applying for authorisation by project managing your application. Our service ensures that the application is complete and accurate, in turn minimising delays to the commencement of trading after being granted FCA authorisation.

Assistance with RMAR (The Retail Mediation Activities Return) Reporting

We can help firms to complete regulatory returns, collecting the relevant data and ensuring that the returns are submitted accurately and on time.

Continued compliance assistance

Eltoma provide ongoing assistance with compliance matters through any convenient method of communication, skype, email and telephone.

CDD, Politically Exposed Persons & Conflict of Interest resolution

We can help you to identify and satisfy any issues that may need to be addressed by creating an action plan and employing monitoring programmes.

Due Diligence for individuals will include checking the following information/documents:

  • Passport (or other legal document) to verify the full name, Date of birth
    Citizenship and photo.
  • Proof of address (any document that could prove identify place of living). 
  • Professional background.

Due Diligence for legal entities will include checking next information/documents:

  • Certificate of incorporation (Full name, Location, Date and number).
  • General information about the business activity.
  • Data that enables end-beneficial owners (controllers) to be identified.

Furthermore, our Compliance Department can provide:

  • Guidance on the proper application and interpretation of regulatory standards.
  • Implementation and support of effective policies, procedures and practices for regulated types of activities regarding AML/CFT policies.
  • Training the staff on key compliance issues.
  • Provide analysis and control of compliance with regulatory norms, detection of offenses / inconsistencies with the regulatory framework (Due Diligence, internal investigations, consideration of client complaints).
  • Regular reports to management on compliance issues.
  • Identification, assessment and management of compliance risks.
  • Maintaining relations with the regulator (including coordination of communication, provision of answers to inquiries, support of inspections and investigations of regulatory bodies).

 

Please contact us for more information on anything mentioned on this page, we'd be happy to assist or provide a detailed quotation for services.

Cyprus:
+357 25 02 50 34
Singapore:
+65 62 47 71 92
Russia:
+7 812 458 46 22
Skype:
eltoma.0015