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Risk Adequacy – What if the FCA comes knocking?
  • Oct 31, 2019
  • Latest News

A Risk Based Approach to Assessing the “Adequacy of Financial Resources”

Webinar: 11:00am Thursday 31st October, 2019

The FCA is increasingly emphasising risk frameworks as part of its expectations of firms’ governance, systems and controls.

On 13 June 2019, the FCA published its  consultation paper "CP19/20: Our framework: assessing adequate financial resources". The FCA intends to publish rules in a Policy Statement in late 2019.

The FCA is starting to ask:
does a firm have a risk management framework which includes a clear risk appetite?
does a firm appropriately and adequately identify the risks to which it is exposed?
how material is each risk?
how adequate are systems and controls in place?
has adequate use been made of stress testing in the risk assessment?
does the risk assessment process meet the ‘use test’ i.e. is it used day-to-day and for decision making?

New rules will apply to all FCA solo-regulated firms. Under the proposed rules, the FCA can request any firm to submit its risk-based assessment of adequate financial resources for review. Do you have an adequate risk framework in place? Are you prepared?

Welcome and Overview
What are the implications of CP 19/20 for regulated firms?
How should a firm prepare for the possibility of an FCA request to review its own assessment of adequate financial resources?
What is a Risk Based Approach and how does it benefit your firm?

Delivered jointly by Complyport, a leading GRC consultancy, and award-winning risk management solutions provider, CalQRisk, this 40 minute webinar will discuss the implications of CP 19/20 for regulated firms. The event will highlight the benefits to your firm of employing a structured (risk based) approach for effectively identifying and assessing the risks to which you are exposed and evidencing that your firm has adequate financial resources based on your assessment of these risks.

Complyport Risk Lead, Richard Revill, will be joined on the day by CalQRisk CTO and Director of Risk Management, Gerard Joyce.
Sign up to the webinar here