Regulatory Interactions

Boards often find regulatory interactions and visits daunting. The nature of visits varies between regulators on their scope and focus. Each visit is important in building the regulators understanding of you and your business and their future levels of attention.

Notification of a visit is worth preparing for thoroughly. This includes making sure that the documentation is in order, that people being interviewed have consistent responses to the same questions and that the likely areas of focus have been properly understood. An "off the cuff" response can lead to time and financial resources being spent clarifying misunderstandings and, in the worst cases, a Section 166 investigation.

BP&E Global is a team of experienced independent specialists that have supported countless firms ahead of visits, helping to showcase strengths to a regulator and focusing on responding honestly.

Our approach with firms is highly tailored to their needs, the mix of activities we can arrange ahead of the visit generally includes the following but often one or two of these steps will be selected:

  • Review of the document going to the regulator including minutes of meetings, Board packs, risk, data etc. 
  • A briefing for those involved bringing them up to date of what is expected of them in their role, the latest "Hot Topics" and common problem areas
  • Preparation of questions in the likely areas they will probe
  • Mock interview session with feedback 
  • Review of areas where work needs to be done before the real thing 

If you are expecting a visit either for authorisation purposes or ongoing monitoring, do consider how well prepared your people are.

Not only were the sessions constructive allowing me to make the changes I needed to, I found the ability to freely discuss my thoughts on the way we should go in a completely confidential way.
CEO Investment Firm
We also run a Preparing for Regulatory Visits and Interviews course to provide further support and advice.

If you would like more information or wish to discuss how we can help with your preparation please call us on 020 7764 0721 or email info@bpandeglobal.com

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