Financial Services ERP for United Kingdom

The Senior Managers and Certification Regime (SM&CR) holds senior individuals personally accountable for their areas of responsibility. Firms must maintain a clear management responsibilities map, certify that staff in certain roles are fit and proper annually, and conduct regulatory reference checks when hiring. Breach of the duty of responsibility can result in personal enforcement action against senior managers.

Anti-money laundering compliance follows the Money Laundering Regulations 2017, overseen by the FCA for financial services firms. This requires risk-based customer due diligence, transaction monitoring, suspicious activity reporting to the NCA, and compliance with OFSI financial sanctions. The FCA Financial Crime Guide provides detailed expectations. Capital adequacy requirements under the UK implementation of Basel III standards require firms to calculate and maintain regulatory capital, with the PRA supervising systemically important firms.

Yukti provides financial services firms with FCA compliance management that covers CASS client money reconciliation, SM&CR responsibilities mapping, and Consumer Duty outcomes monitoring. The client onboarding module implements risk-based CDD with identity verification, screening against PEP and sanctions lists, and ongoing transaction monitoring. Regulatory reporting generates the returns required by the FCA including RMAR for appointed representatives, REP-CRIM for financial crime data, and Gabriel portal submissions. The capital management module tracks regulatory capital ratios and performs stress testing scenarios. The complaints handling module manages FOS-reportable complaints with root cause analysis and the biannual complaints return preparation. Product governance supports the manufacturer and distributor obligations under the Consumer Duty.