What "FCA-grade" really means in operations
Vendors love the term. Few earn it. Here is what we actually mean when we tell a client we run their operation "to FCA standards" — and what it costs to deliver it.
Administrator
"FCA-grade" is a phrase the industry has stretched out of shape. We use it specifically. Here is what we actually mean.
1. Documentation, not just procedures
Every operating decision is written. Why we did it. Who signed it off. What we expected. What actually happened.
A regulator can read an operation by reading its paper trail. So can an acquirer. Both pay for clarity.
2. Four-eye control on anything that touches client money
Not a slogan. Two named individuals must approve any movement, any credit, any change to a fee structure or risk parameter.
3. Reconciliation discipline
Daily, automated, signed. End-of-month is too late.
4. Change control with a roll-back plan
If you cannot articulate the roll-back, the change is not ready to ship.
5. Audit-ready, not audit-prepared
There is a difference between being able to pass an audit and being able to pass it cold tomorrow morning. The second is the standard we operate to.
FCA-grade is not a marketing claim. It is an operating discipline. Hold us to it.
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