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Bankhall and DBS offer N2 support

Bankhall has developed an N2 package for directly PIAregulated members to ensure they meet the changed compliance requirements.

It is also running 18 presentations around the UK until November 7, emphasising the importance of senior management responsibility, effective systems, controls and risk assessment, the implication of the new approved persons&#39 regime and the code of practice and conduct of business requirements.

It is also supplying members with an N2 transition document summarising the FSA handbook, a compliance guide and an adviser manual.

DBS is developing a new T&C scheme and setting up relationship management teams which it says reflects a more “adult attitude” to compliance in line with the FSA&#39s new risk-based approach.

It has appointed consultants Arthur Andersen to carry out a healthcheck of its N2 prep-arations and is issuing a series of newsletters to members on topics such as grandfathering and money laundering.

Bankhall director Tony Murrell says: “While ensuring that our member firms meet appropriate regulatory standards, we have also designed a compliance management system which still allows our independent companies the flexibility to develop their own particular standards of operation.”

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