A compliance manual is a document which sets out how the firm expects the advisers operate and the standards that they are expected to meet. It usually details the advice process to follow including, for example, execution only procedures and insistent client procedures. It can also include the firm’s Anti Money Laundering procedures, whistleblowing procedures, best execution policy to name a few. The document should act as a useful reference document for all staff to use, not just advisers. The key is that the compliance manual must be bespoke to the firm.
CATS can assist firms build their own compliance manual or provide a template manual which is then made relevant to them.