016: Compliance and the FCA - with Roland Romata

<p>On today's episode, we’re talking to Roland Romata of RR Compliance Associates and partner to Boston Tullis. Roland has over 10 years’ experience working in compliance, initially in the SRA field before moving to FCA regulated sectors. Roland’s focus and passion is in designing and developing bespoke compliance practices for firms using automated technology and IT solutions to drive resource requirements for efficient compliance practices.</p> <p>LEARNING OBJECTIVES:</p> <ul><li>The FCA have made a number of changes to their rules which should be checked and implemented to firms in the industry if they haven’t done so already.</li> <li>Some firms may find it difficult to implement the FCA’s new support packages and measures depending on the line of product the brokers offer to the customers – it’s important to access your customers profiles and be mindful who the support packages relate to.</li> <li>Firms need to be mindful of the financial implication of the new support packages and measures as well as the affordability. It doesn’t pose to be a simple transition but one that firms should be considering across the sector.</li> <li>Being compliant with all of the rules that have been in place prior to the pandemic is as important as remaining compliant with the customer’s best interests. Brokers and firms in the industry should focus on accessing their risk.</li> <li>Firms really need to look at what type of data is being made available to individuals when they work from home from a Data Protection front.</li> </ul> <p>BEST MOMENTS:</p> <p>‘’…The FDA has made a good number of publications, created a dedicated webpage for businesses as well as consumers on their website, and firms are able to sign up to covid-19 related newsletters as well. We would encourage firms to do so if they haven't done it yet, as there are a lot of changes are happening and support being put forth by the FCA and they don't follow the normal consultation root of being a publication of feedback.’’</p> <p>‘’…to give a practical co