067 - Why Fit and Proper Assessment Matters

<p><span style="font-weight: 400;">There are a number of different factors to consider prior to undergoing a ‘fit and proper’ assessment, and although there is no one-size-fits-all approach, in today’s episode I’m going to talk about some of the most important practices and principles which can help you achieve success in the FinTech compliance world! </span></p> <p><span style="font-weight: 400;">If you found value in this episode, I would really appreciate if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies!</span> <span style= "font-weight: 400;">If you are on Apple, just </span><a href= "https://podcasts.apple.com/ch/podcast/compliance-that-makes-sense/id1535160531"><strong>click here to review</strong></a><span style="font-weight: 400;">, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is. </span></p> <p> </p> <p><strong>Today's episode:</strong></p> <p><span style="font-weight: 400;">[00:39] An introduction to the topic of today’s episode. </span></p> <p><span style="font-weight: 400;">[01:07] The importance of ensuring that your team is sound prior to an assessment.</span></p> <p><span style="font-weight: 400;">[02:23] Key factors to take into consideration when structuring your team.</span></p> <p><span style="font-weight: 400;">[04:20] Examples of roles within a FinTech company that can be combined. </span></p> <p><span style="font-weight: 400;">[05:11] Cases where a director of one entity can be the director of another entity. </span></p> <p><span style="font-weight: 400;">[06:35] Reasons that some regulators don’t approve of one person being the director of multiple entities. </span></p> <p><span style="font-weight: 400;">[09:16] Why local experience is becoming less relevant in the FinTech world. </span></p> <p><span style="font-weight: 400;">[10:38] Weighing up the pros and cons of hiring a part time comp