Consulting


RegSol specialises in regulatory compliance. If your firm is a regulated entity or would like to become regulated to provide specific services, we can definitely help with your compliance needs.

If you are just starting out, you may be interested in our authorisation assistance program. We have extensive experience with regulators such as the Central Bank of Ireland (CBI) so can help you navigate the entire process.

Our consultants are also experts at drafting and reviewing compliance policy documentation. In addition, we can help to design and validate processes/procedures to ensure the highest levels of compliance with various regulations. Our compliance audits leave clients with a clear understanding of how well they are addressing their regulatory obligations and a concise action plan for any remediation items.

Once you are up-and-running, our Compliance-As-A-Service subscription model means you will have the best compliance assistance at your fingertips. We will answer any queries that may arise e.g. “how does this new legislation apply to my firm?” in addition to spending time helping with your compliance conformance. We truly believe that having your KYC, etc in good shape should be a business enabler rather than a tick-the-box exercise, and we would love to partner with you on this journey.







 

Broker Authorisations


If you wish to trade as a retail intermediary in Ireland (insurance, mortgage, etc) you will need to be authorised by the Central Bank of Ireland. As specialists in Broker authorisations, we have developed an efficient client-centred process that takes you from initial introductory meeting to authorisation decision stage. Whether you wish to provide Insurance, Investment and/or Mortgage intermediary services, we can advise you on every aspect of your application and ease the burden of meeting application requirements.

This includes providing template structures for necessary documents and assist in drafting tailored content while project managing the process from beginning to end. Having completed a signifcant number of successful authorisations, we have developed a full understanding of Central Bank expectations which means we can help you meet them. With our transparent fee structure you will also have certainty of costs from the outset.

Policies/Procedures Services

Our consultants have a vast amount of experience in authoring, amending and reviewing compliance policy documentation across a wide range of industries. In addition, we can help to design and validate processes/procedures to ensure the highest levels of compliance with various regulations. Examples of such policies/procedures include (but are not limited to) the following –

  • Client On-boarding
  • Anti-Money Laundering/Counter-Terrorist Financing
    • General Policy
    • Suspicious Transaction Reporting
    • Financial Sanctions
    • Screening measures
    • Customer Due Diligence checklist
    • Business-wide Risk Assessment
  • Training
  • Management Information/Reporting
  • Record-keeping, both electronic and physical
  • Data Protection
    • Access Service Request
    • Breach Reporting
    • Record processing
    • Consent management/tracking
    • Data retention schedules
    • Privacy notice
  • Technical Organisation measures: security programme/information security policy to safeguard personal and company data, physical and electronic
  • Third parties/processor relationship management/oversight/breach reporting
 

Compliance As A Service (CAAS)

It can often be difficult to get a quick answer to a compliance query. Whether or not you have an in-house compliance officer, it can be very beneficial to have an independent opinion which is backed by substantial cross-industry experience. A CAAS subscription covers the following -

  • RegSol Quarterly compliance update – detailing changes in applicable regulations, etc.
  • Access to compliance consultancy via email/phone for short compliance queries (<15 mins)
  • Periodic review of processes and procedures wrt AML/GDPR (onsite and remote options avaialable)


Monthly/Quarterly/Annual subscriptions available, please contact us if you would like additional information.

Compliance Audits/On-site Reviews

In order to assess current levels of compliance or to assist in preparing for a CBI or DPC inspection we undertake on-site reviews in areas of Anti-Money Laundering, Data Protection and Consumer Protection.

The practical steps involved include:

  • High Level review of existing Policies and Procedures
  • Interviewing relevant personnel
  • Reviewing relevant documents e.g. ToB’s, Suitability Statements, Privacy Notice, etc.
  • Undertaking a sampling exercise of client files
  • Comprehensive Report detailing Review Findings & Recommended Actions
    • Serves as a roadmap for required actions going forward
    • Can be provided to the CBI on request

Anti-Money Laundering


With agreement on the content of a 5th EU AML Directive, Anti-Money laundering remains a constantly developing area of regulatory compliance for Designated Persons and people in positions of responsibility. As experts in AML compliance in Ireland, we provide a large range of compliance services to ensure your AML, Counter-Terrorist Financing (CTF) & Financial Sanctions (FS) processes are up to date.

Specific services that we offer include -

  • Drafting and Reviewing Policies and Procedures
  • Compliance plans, on site sample reviews
  • AML/CFT, FS and RMP Responses
  • Completion of REQ's, etc.

What is the GDPR?

The GDPR is the European Union’s General Data Protection Regulation. Its purpose is to “harmonize data privacy laws across Europe, to protect and empower all EU residents’ data privacy, and to reshape the way organizations across the region approach data privacy for EU residents wherever they work in the world.”

Who is covered by the GDPR?

The law applies to any organization conducting business in the EU as well as to organizations outside the EU that collect, process, or store information on EU citizens as well as on non-citizens while they reside in the EU.

  • Non-EU companies that employ EU citizens (regardless of location)
  • Non-EU companies that collect, process, or store data on EU citizens and/or residents (even, for example, an IP address for a single individual)

What should you do?

GDPR requires an ability not just to comply but for Data Controllers and Data Processors to be able to demonstrate that compliance.

Our range of Data Protection services are designed to help you do that through onsite audits, roadmaps for required actions, updated procedures and ongoing advice and training. If you are not sure where to start or what assistance you require, contact us today to setup a consultation via phone or in person.