Case Study

Monex Safeguarding Audit

June 28, 2019

Client

The client is a large FX company headquartered in London offering …..

Objective

To conduct a safeguarding audit to ensure compliance with the relevant regulations – Payment Services Regulations 2017 and relevant guidance.

Approach to engaging with the client

We reviewed the client’s existing safeguarding policy and as they did not have a written policy, we interviewed the relevant people and documented the current approach to safeguarding.

We met with the client to discuss the safeguarding policy and agreed an appropriate approach which complies with the Payment Services Regulations 2017 and relevant guidance.

We drafted a written policy documenting the client’s safeguarding policy and detailed rationales for the selected approach and worked with the team to document written procedures for the daily safeguarding reconciliation process.

Outcome

A safeguarding policy and corresponding safeguarding procedures was successfully documented to ensure compliance with the relevant regulations and to provide assurance to appropriate stakeholders.