Compliance Star, is our technology based on-boarding, monitoring and risk management tool, designed to enable Principal firms to manage their Appointed Representatives (ARs) effectively and efficiently.
Because the system is flexible and adaptable it also works just as effectively for other sources of business, such as directly authorised broker networks or branch networks of more than a few offices.
Compliance Star is comprehensive yet easy-to-use, it enables two way communication between the Principal and their AR with remote review of documents, approval of financial promotions, reporting of complaints and risks, regular monitoring requirements, auditing and much more besides.
The key elements of the system include:
– Task management
All functions are managed via task control, you set deadlines and the system generates notification and chase emails plus task alerts and calendar population for robust control of both internal and external activity
-Take on of a new AR or source of business; including Approved Person requirements
Allows you to gather, review and store relevant information and set out the different elements and steps involved, for a consistent and reliable approach
-Collection of regular key data
Decide what data and information you require from your AR and how often; vary requirements depending on the category of firm or the risk.
– Financial Promotions
Financial promotions are uploaded for you to review and approve, checklists are completed for you to understand context and supporting detail
– Complaints management
Allows remote uploading of complaints and all supporting files for greater control and MI
You can use the system to complete audits remotely or face to face, request, review and store all supporting documents and generate time bound actions for the AR to provide further information, or address issues identified
Online CPD records so you know what type of CPD is being undertaken, by whom, when and what the learning outcomes are
– Management information
Pull regular reports on anything from complaints to CPD, regular data, audits, financial promotions for robust oversight and control
Compliance Star gives you improved oversight by providing real time client information, providing reassurance that issues can be identified and addressed in a timely manner and allowing you to meet – and demonstrate that you meet – your regulatory obligations.
Contact Thistle on 0207 436 0630 or fill in your details below if you would like to know more about how Compliance Star can help your business.