The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
Payment Services & Card/ Merchant Acquirers
UK Credit Card Provider
The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
Lysis reviewed the firm's operating model including a partnership with a digital assets firm whereby they offered both fiat and crypto wallet capabilities. The management of client monies across this fiat/crypto service set was not correctly set up, leaving our client open to FCA censure. Lysis worked with the firm to define the correct model for client money safeguarding and helped them set up the correct client money bank accounts and a new accounting, reconciliation and reporting framework. We were then able to demonstrate to the FCA that the issues had been resolved and that client monies were being correctly safeguarded.
A major estate agency had a need to establish a Know Your Customer (KYC) function which was able to scale and undertake a remediation exercise to meet new regulatory requirements (i. e. , 4MLD) and to build out a business as usual (BAU) function to service ongoing requirements.
Our client wished to ensure that it had all UK regulatory requirements covered by policy, procedures and controls.
The merger of two global investment banks required the implementation of a single client onboarding firm structure and alignment of systems and procedure to a single global policy.
