Compliance

General

We permanently monitor your financial company’s degree of compliance with prevailing regulations, criteria issued by supervisory bodies and market best practices.

Within the area of compliance, GOMARQ assumes the following responsibilities:

  • Monitoring a financial company’s compliance with prevailing regulations.
  • Controlling and assessing the appropriateness and efficacy of the measures and procedures adopted.
  • Advising and assisting financial companies in implementing applicable regulations.
  • Drawing up regular reports for senior management and supervisory bodies.

GOMARQ’s compliance services proposal is flexible and adapted to your company’s needs – ranging from handling all functions and responsibilities as an external (outsourced) Compliance unit to carrying out specific recurrent tasks under your co-ordination and supervision (consultancy).

GOMARQ stands out for its:

  • Independence from companies’ business areas.
  • Proven efficacy of our procedures and methods.
  • Proprietary technology developed to improve internal control processes, widely accepted in the sector.
  • Leader and pioneer in offering Compliance services to financial companies.

Objective

Our objective is to proactively identify any risks of non-compliance with regulatory and operational standards for financial companies, by continually monitoring their activities. Thanks to our experience, sector knowledge and specialised technology, we are able to propose corrective measures to keep companies from failing to comply with regulatory norms and to minimise the impact of possible non-compliance.

At GOMARQ, we believe that with strict regulatory control and careful planning, the basic groundwork can be set to avoid legal and reputational risk, improve the efficiency of a company’s internal processes, increase its value and improve its corporate image.

Service features

GOMARQ offers a wide range of service features to respond to all financial companies’ needs:

1.- GOMARQ can take on the Compliance unit functions current regulations demand of financial companies (delegation of functions).

2.- When a financial entity does not wish to delegate its compliance function but does need specialist assistance, GOMARQ can perform the compliance and internal control tasks requested of it by the financial entity, under the latter’s control and supervision. Our consultants have experience in working closely with compliance units in all types of financial entities (large or small, independent or part of large financial groups, Spanish or foreign).

3.- GOMARQ also offers clients the possibility of using our know how and specialised software to make the Compliance unit’s work easier and more efficient. We provide our experience, global vision and knowledge of regulations and market best practices. Here, our service involves the following:

  • We help financial companies to design and implement Compliance Working Plans in line with the services they offer, their financial products and their organisational structure.
  • We design action plans to transfer our knowledge to the Compliance units of financial companies.
  • We supply specialised software so that compliance functions can be carried out efficiently and the organisation’s internal control can be improved.

First steps on contracting the service

When a financial company approaches our specialised consultancy services for Compliance functions, we roll out a series of actions to ensure the company is immediately compliant with regulations in force and to provide an appropriate control structure. To meet this objective, we assign a multi-disciplinary team of GOMARQ consultants to simultaneously carry out the following tasks:

  • Draft a Compliance Working Plan, according the company’s activities and services offered, its financial products, the corporate group it forms part of, etc.
  • Implement communication channels between GOMARQ and the company’s different business units. GOMARQ provides the necessary technical equipment.
  • Carry out a gap analysis of the company’s internal control structure and level of compliance with the main regulatory requirements (stock market, personal data protection, anti-money laundering, MiFID, etc.). The objective is to detect any potential operating or legal risks, and, if necessary, adopt urgent corrective measures to address these areas.
  • To update, or if necessary design, the compliance and company policy manuals required under current legislation (MiFID, remuneration, business continuity, etc.).
  • Design a training programme for company managers and agents, addressing the most pressing issues (e.g.: upcoming regulations and their impact for the company), and other key regulatory aspects (e.g: measures to prevent money laundering, market abuse, codes of conduct, etc.). These courses will be given by specialist GOMARQ technicians.

Software made available to our clients

When GOMARQ is “delegated” by a financial company to take on its Compliance functions and responsibilities, as an integral part of the service and at no additional cost, we offer our clients useful and value-added IT applications and software:

  • Tailored software, proven effective at numerous financial companies, which in addition to meeting regulatory requirements and improving the entity’s internal control function, makes day-to-day tasks easier: internal code of conduct manager, detection of transactions related to market abuse, control over compliance with investment policy and client risk profile, valuation of financial products, document database for consultation by employees, managers and agents, measurement and monitoring of legally-required ratios and limits, etc.
  • GOMARQ updates, improves and maintains this software and is responsible for housing it on our own servers, making daily back-up copies and carrying out IT maintenance, so our clients do not need to incur additional expenses or make heavy technological investments.

Keys to Success

Being close to our clients and adapting to their needs.

An in-depth knowledge of the regulations applicable to each financial company, and up-to-date knowledge of regulatory criteria and best market practices.

A wide range of service features adapted to the needs of each financial company.

We add value for our clients and create more efficient processes, leading to cost savings.

We offer a global and comprehensive service within financial companies’ organisational structure.

We permanently monitor companies’ processes and all regulatory requirements.

We identify non-compliance ahead of time, detecting potential risks, and, if necessary, we adopt measures to rapidly correct any issues.

We are a perfect complement to the organisational structure of any financial company, supplying the human and technical resources wherever you need them.