If you are dealing with laws and regulations and want to determine whether your organization, processes and procedures are suitably established, we can carry out a scan for you. Think of a scan on FSA, AVG or customer survey.
With the 4th anti-money laundering directive that came valid on July 25, j.l. , a number of matters have changed, such as definitions of the Ultlimate Final Beneficiary (UBO), risk classifications and reporting indicators. In addition, general provisions apply such as the training obligation and whether or how your organization performs internal control and supervision.
In order to ensure that you comply with the FSA, it is therefore important to have insight into your obligations and the way in which you most effectively implement them.
For example, with our FSA scan you determine whether you comply with the law. We perform the scan on your location with the following content:
- Determining the FSA scope in relation to your organization.
- The basis, interpretation and recording of customer due diligence.
- Determination of risk assessment and policies, procedures and measures.
- Unusual transactions and the reporting obligation.
- Training and education (awareness).
- Control and monitoring.
The findings, conclusions and recommendations of the scan are recorded in a report and discussed with you.
It is important that you tailor the customer survey to your type of customers and the possible risk that they may impose. The documentation is also important, the evidence must be unambiguously recorded, saved and kept up to date during the period that the customer is connected to you.
It is important to you that customer research takes place quickly and efficiently so that the costs remain limited and the customer relationship can start quickly. In addition, customer research is also part of the total customer journey and smart solutions can optimize the customer experience right from the start.
We conduct customer research for various parties and can support and advise you in this.
Your organization has a large number of new and existing customers. Speed and quality are crucial when processing the orders of your customers. Your customers want to be able to use their product or service as soon as possible. In addition, it is indispensable that the order processing team seamlessly connects to the sales team. This process is part of the first experience your customer has of the service provided by your company.
The order process has sometimes many fluctuations. Because of this, it can be challenging to manage the capacity well. This often comes at the expense of the speed of delivery and can involve high costs.
Q-linq has years of experience with the processing of orders in combination with customer research (CDD) for the financial sector. We process incoming orders quickly and accurately in accordance with the mandatory laws and regulations.
Often a lot of time can be gained in completing the orders. Think of supplementing data and / or documentation. Based on our experience, we have learned that it is important in this process to follow up on the new customer in the right way, so that the application time can be significantly reduced. If desired, we can also take care of this part of the order process for you.
As a financial institution, you want to apply for or extend a permit. It is important to be aware of the latest developments in the licensing and requesting a declaration of no objection (DNO).
We have an experienced and successful team that can support you in determining which requirements you have to meet in order to obtain a vvgb or a permit. We can also support you in drafting and updating the documents required for the application and the additional questions that the regulator can ask.
The current regulatory changes are unprecedented and result in challenges for everyone who carries out regulated activities.Moreover, in view of the agenda of European and national legislators, the expectation is that the regulatory burden will be more than less in the coming period.
As an organization, you are regularly confronted with regulators such as DNB and AFM, requirements under the FSA, and an unremitting flow of further legislation and regulations. It is a challenge to follow up on that and at the same time keep a focus on business. We advise on financial legislation and regulations and structure your policy towards your customers.
A good management structure requires competent people on the Executive Board or management board and good internal supervisors on the Supervisory Board (SB). Clear agreements about information provision, powers, formal and informal consultation and compliance with the Corporate Governance Code are crucial.
Directors and supervisory directors not only bear responsibility within their own organization, but also outside of it. That is why a good relationship with the various stakeholders is important for every company.
We can help you with your corporate governance in various ways:
- Self-assessments: our behavioral experts help you carry out self-assessments. You will also receive advice in dealing with weak spots in the structure and culture of your organization.
- Stakeholder relationships: our consultants help your organization to optimize your relationship with stakeholders.
- Corporate Governance Code: our consultants advise you on compliance with the Corporate Governance Code and related laws and regulations.
- Corporate governance structure: our consultants help you to set up your corporate governance.
For a financial institution it is mandatory to have a compliance function. This is established in the Act on Financial Supervision (AFS) and the Act on the Supervision of Trust Offices (Wtt) and underlying regulations. Incidentally, appointing a Compliance Officer is not a literal obligation in Dutch supervisory legislation, but it is the most common way to fill in a compliance function.
The compliance function belongs to the so-called ‘second line of defense’ within the company and must be able to function independently.
Particularly for smaller organizations, the internal interpretation can not be expedient, there is simply too little capacity, knowledge or resources and the function can not be combined with other responsibilities.
Every organization may outsource the compliance function. Also companies that are obliged to set up a compliance function under the Financial Supervision Act or the Trust Offices Supervision Act. The responsibility for the implementation of the compliance function always remains with the company itself.
We can fulfill the role of external Compliance Officer for you.
KYC / CDD Analyst
For temporary and/or ongoing support with your KYC/CDD onboarding activitites we can provide you with a managed solution. There’s also the posibility to post our analysts at your location.
Our analysts have years of experience with onboarding new clients and are kept up to date with changing regulations & requirements.
With the introduction of the “revised European payment directive PSD2 (Payment Service Directive 2)” there are many possibilities for new acceding parties that can apply for a license for payment service 7 & 8.
PSD2 provides a legal basis for two new service providers, who can access the bank accounts that the banks manage under certain conditions. This concerns the provision of services on account information, also called an “Account Information Service Provider (AISP)”, and the provision of services for payment initiation, or the “Payment Initiation Service Provider (PISP)”. An AISP is a party that collects and makes available account information from the bank with the permission of the user of a payment service. An AISP can not transfer funds from a payment account itself, they can only offer the possibility to show an aggregated view of previous transactions that have already been executed. A PISP is a service provider that can initiate payments on his behalf with the permission of the user of a payment service.
De Nederlandsche Bank (DNB)
A growing number of companies offer services to their customers that require a payment permit. Q-linq has the ability to guide companies in the preparation and filing of the application for obtaining a payment authorization from De Nederlandsche Bank (DNB).