Blog/Compliance Monitoring Guernsey

Compliance Monitoring Guernsey

Compliance Monitoring Guernsey

25/04/2018

The regulatory environment has seen some significant changes in the past, and it is an ever-changing environment which you are expected to adjust to, as and when the changes occur.

Why is compliance monitoring necessary?

You need to monitor your processes and ensure you meet compliance standards always, otherwise you risk losing your business and your license.
At Active Offshore, compliance monitoring in Guernsey is one of our specialities. We perform vigilant checks to ensure your business is consistently adhering to the standards to ensure you don’t encounter any issues or make your business vulnerable to fraud.

Is compliance monitoring mandatory in Guernsey?

The Guernsey Financial Services Commission (GFSC) perform visits and audits to ensure financial firms are complying with all financial standards and regulations. If your business is failing to comply or is at risk of non-compliance through a lack of monitoring, you are at risk of losing your licence to operate, and your reputation is under threat.

How does compliance monitoring work?

Active Offshore visit each branch of your business regularly and work with all your AiF licence holders to ensure they are kept up-to-date, and they will form a part of our analysis.

AiFMD compliance support Guernsey at Active Offshore will choose files at random and analyse them to ensure your practice is complying with the AiFMD. We will review everything, including filing, administration, decision making, risk assessment and internal policies, so that we can identify specific risks and implement policies and procedures to minimise them.

Will compliance monitoring guarantee industry standardsare met?

Compliance is our speciality at Active Offshore, and we offer a very thorough compliance monitoring system to ensure the expected standards are achieved. Our extensive programme works though each element of compliance step-by-step, making sure your business is completely covered.
Active Offshore will provide you with a detailed report exposing your areas of risk so all involved in the process can easily review and make the necessary adjustments to ensure full compliance. This compliance monitoring will help ensure you pass auditing by the GFSC.

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HAVE MERGED FROM JULY 2018

Active Group and Optimus Group, two leading corporate governance and regulatory compliance service providers have merged to provide an enhanced and more extensive service to clients. This brings together the two most experienced corporate governance, risk management and compliance service companies in Guernsey.

Details of the new name and web site will follow but in the meantime please access either website for information.