Regulated firms can appoint other businesses to provide financial services on their behalf. But regulated firms are directly responsible for ensuring their Authorised/Appointed Representatives operate within the authorised activities of the regulated firm and comply with the relevant regulations.
Regulators require the principal firm to have strict controls covering the take on of Appointed Representatives, the periodic monitoring of their compliance and recording exceptions/issues such as complaints and errors.
GRC-Maestro supports your Appointed Representatives governance and reporting with:
- Maestro-Templates: based on your specific Appointed Representative requirements
- Schedules: periodically sending Maestro-Forms to the manager responsible for each Appointed Representative
- Incidents: evaluate responses with automatic and manual incident creation, reporting and resolution
GRC-Maestro evidences to your regulators that your business effectively and proactively manages their Appointed Representatives.