As part of the firm’s procedures annual reports should be written, especially for firms with a number of advisers. These reports can include the following:-
- Money Laundering Officers Report
- Money Laundering risk analysis
- Compliance Oversight report
- A review of the effectiveness of the T&C scheme
- TCF review (if not completed more regularly)
- Review of the firm’s Compliance Monitoring plan
However, as with all things, there are often not enough hours in the day.
CATS can assist firm by drafting reports for them bespoke to the firm. CATS liaises with the person responsible for the reports at the firm to obtain the relevant data. CATS will then draft the report ensuring it is relevant to the firm. The reports are then submitted to the individual for their perusal. Once they are happy with the content the next job is for the individual to discuss the content of the documents at management/board level.