Your platform is now live and your first offer is open for investment. Congratulations!
Now we move into maintenance mode: Confirming — and regularly reconfirming — that systems and controls are in place to ensure you are following regulatory obligations and treating customers fairly. Below you will find the key ways in which you will evidence your compliance.
Over the first several weeks after launching your platform ShareIn Compliance will help you to understand the many requirements of operating a financial services business. But where do you start? The link provided below will help get you orientated.
You must report any complaints or breaches as soon as you become aware of them, following the policies and procedures laid out for resolving them. If new conflicts of interest arise, these must be logged and eliminated or remediated, as you’ve already done in preparation for platform launch.
- Read about the Complaints process and register in the Compliance Manual
- Financial Promotions Breach process
- Read about our Conflicts of interest process and register in the Compliance Manual
New offers and marketing activities
As your platform grows you will have new offers and continuing marketing activities. Client communications must meet the test of fair, clear and not misleading and comply with a number of specific requirements and guidelines. You will continue to submit your financial promotions — including all offering material — for review and approval by ShareIn Compliance.
- Financial Promotions in the Compliance Manual
- Financial Promotions approval process
- Due diligence requirements for new offers
- Financial Promotions Do's & Don'ts
- Financial Promotions Training by ShareIn
- Process for Remediating Breaches
- FCA Guidance on Social Media
Training and competence
The FCA defines competence as “having the skills, knowledge and expertise needed to discharge the responsibilities of an employee’s role.” The ShareIn training and competence programme is designed to include both understanding the regulatory environment and the individual’s requirements in complying with that environment, as well as general aptness for the position the employee holds.