While your compliance framework will provide your management team and employees with information on your regulatory obligations, your Operating Procedures and guidelines assist in achieving the goals set out in your Firm’s business plan.
The objective of Operating Procedures is to lay out practical steps for the conduct of licensed financial services activities while ensuring adherence to all applicable laws and regulations, as well as your Firm’s policies, procedures, systems and controls.
Depending on the scope of your Firm’s licence, the procedures will cover:
- client acceptance and onboarding
- transaction processing - such as order receipt, transmission, amendment, cancellation and confirmation
- customer service
- complaints handling procedures
- day to day procedures for monitoring adherence to relevant policies.