Compliance Consultants - Thistle Initiatives

As a team of 70+ financial industry specialists, compliance consultants, ex-regulators, and lawyers, we speak compliance so you don’t have to.

We believe in doing, not delegating. Covering risk is one thing, but a commercial mindset is everything.

We will keep your organisation moving forward with transparent advice and hands-on support. To guide you through the journey of compliance, from beginning to end and beyond.

For press or public relations please contact marketing@thistleinitiatives.co.uk

“Thistle Initiatives has a strong heritage in regulatory compliance, and we’ve built on that expertise to deliver a broader consulting offering. Today, we support financial services firms not only with compliance and financial crime, but also with change management and business transformation. As businesses adapt to new operating models and technology, we provide practical, end-to-end solutions that help them stay compliant while achieving growth.

Our focus is on creating measurable impact and long-term value for our clients, backed by a team of specialists who understand the challenges and opportunities in this market.

In short, Thistle is evolving into a full-service consultancy that combines regulatory strength with transformation expertise to help firms thrive in a changing landscape.”

Scott Friedrichs
Chief Executive Officer

History and milestones

2012
Thistle Initiatives established

2013
Resolution Compliance established

2014
UKGI acquisition

2014
Knowledge Centre launched

2020
UKGI sale

2020
Compliance Star established

2021
Absolute Cover established

2022
Financial Crime team established

2022
ATEB Suitability acquisition

2022
ATEB Compliance acquisition

2025
ATEB Suitability and Compliance sale

2026
TORI Global acquisition

“After spending several years in the financial services recruitment industry, I joined Thistle Initiatives in 2015 to collaborate closely with James Dingwall on the company's development. Before taking on the role of Group Managing Director in 2021, I was the group's Director of Business Development for five years.

Being part of the leadership team for many years, I'm grateful to the individuals who have helped the Group grow so successfully. As I begin my new chapter as CEO, I reflect on 2015 and the motivation behind joining Thistle. No matter how big or small, Thistle Initiatives has a real impact on the lives of our clients and consumers of financial services. We are dedicated to helping our clients navigate compliance by offering practical, commercially focused guidance.

People have always been my passion. Our people are what make the Thistle Group so special, both to work with and for our clients. We are constantly learning and growing, never afraid to step into new markets, which drives fantastic results.

As we move forward and continue to offer a high calibre of services to financial services firms, I look forward to Thistle's future development and success. The firm belief that Thistle Initiatives can be much more than a compliance consultancy is what motivates our employees. We think creatively, commercially with a results driven mindset to add value to every project we undertake.

The outstanding team we have in place at Thistle Initiatives is the key to our success in supporting clients through numerous M&A transactions, supervision, enforcement, tribunals and FCA authorisations. We have a mindset that mixes problem-solving with a business-oriented approach to provide the finest level of service, and I'm equally proud of that.

Thistle Initiatives has grown to become one of the top financial services compliance consultancies in the UK with the addition of ATEB Compliance, and ATEB Suitability to the portfolio. Together, we provide a wide spectrum of financial services business sectors with reliable compliance services, solutions, and support.”

Sophie Long, CEO

Association of Professional Compliance Consultants (APCC)

We are one of the largest members of the Association of Professional Compliance Consultants (APCC).

The APCC is the body that represents compliance consultancies advising FCA regulated firms in the UK, promoting high professional standards and setting best practice guidance for members to follow.

We often work with the APCC to pilot or test new initiatives and provide feedback on a range of topics. This relationship increases our access to the FCA, greatly benefiting our clients.

Partners we work alongside

We partner with trusted organisations that can support your growing business

Accountancy Firms

Be sure that your financial transactions, from tax to payroll, are accurate, legal and efficient.

EMI/PSP Principles

Looking for a fast track route to issuing e-money for your customers? Talk to one of our trusted principal firms to consider if the agent route is right for you.

Incubators and Accelerators

For startups looking for support and funding to get your idea off the ground and into the market.

IT Consultancies

Design and install the most appropriate IT systems that fit your business needs and commercial goals.

RegTech Providers

Accelerate your regulatory processes, including customer onboarding compliance, monitoring and reporting.

Law Firms

Stay on the right side of the law, as well as the regulator, with support from our trusted law firm partners.

Safeguarding Providers

Protect your customers funds and strengthen your firm’s prudential risk management in accordance with UK regulation.

Trade/Settlement Platforms

Ensure compliance and market obligations for trade settlement, clearing and reporting are met efficiently and accurately.

Recruitment Consultants

Hire right first time, with support from recruiters who understand the financial services industry.

As well as referring clients to our partners, we also accept client referrals from complementary businesses. Do you have a client who needs our help? We are happy to chat.

Charity work

We regularly raise money for causes that are close to our heart. We love working alongside our clients and colleagues, to bring awareness and much-needed financial support to charities all over the UK.