London marathon

Jon Farley – Active Group’s CEO – completed the London marathon on 22 April 2018.  He ran for UK Parkinson’s raising money for the charity whilst enduring tough conditions doing a respectable time.  We here at Active Group are extremely proud that Jon has now completed 4 marathons since April 2017 and continues to raise money for such a good cause.

Regulatory Compliance Services and Consulting in Guernsey

Regulatory Compliance Services in Guernsey

In the past five years, operations for all business have changed dramatically. New Directives, demands for reporting, and protections in place for consumers mean businesses have a lot of work to do to maintain their operations to the new standards that are required.

One of the most difficult aspects of compliance is just how many rules and regulations must be kept in mind simultaneously. It can seem impossible to keep everything straight and not make an error. The regulatory compliance services that Active Optimus Group Guernsey offers can help you and your staff navigate the many layers of regulation and ensure you’re operating above the bare minimum in every way.

Does my business need regulatory compliance services?

The risks of falling outside of regulation are simply too great to take. Large fines, interruption to your operation, and complete devastation of your reputation for trust are all at stake. What’s more, when you fail to meet compliance, you risk your privacy, the personal protection of your customers, and the chance of operating in future.

As the European Union continues to develop, we can only expect further additions to compliance standards, making for an even more complicated business environment. Many operations are so large that they can hire in-house experts to manage many other kinds of compliance. For everyone else, there is Active Optimus Group. Our whole business is compliance, and we can make the difficult task of getting up to standard easy and straightforward.

How can I make sure my business is always in compliance?

Maintaining compliance is a more difficult task than ever before and requires constant monitoring. No matter how organised and prepared your business is, you must be prepared to devote time and energy to maintaining compliance standards.

Active Optimus Guernsey helps to take the mystery out of compliance. Unlike many of our clients, we enjoy compliance, and specialise in making sure we find the best ways to help our customers maintain the complicated standards laid out for every business in the EU. No matter your business or position, we can help every Fund Manager, employee, and business owner to rest assured t the job of navigating compliance is in competent hands!

If you’re worried your business may not be compliant, don’t wait to get help. Every day that passes is one more day you need to work to repair, and there’s no reason to put off getting started. Contact Active Optimus Group today, and we’ll get your business where it needs to be.

GDPR Support and Training in Guernsey

GDPR Training Guernsey

The financial benefits created by the introduction of the European Union have also brought massive complications to many sectors. Several disparate and conflicting laws between regions and nations mean there is always work to be done to ensure these linked business connections do not create too much risk.

With modern technology and increasingly global business structures, the risk to personal data and privacy has never been higher. Given how closely members of the EU tend to work together, it has been important to find a way to ensure personal data is protected in a unified way, across the EU, and across the world.

What is the General Data Protection Regulation (GDPR)?

The General Data Protection Regulation (GDPR) was created as a direct response to the changes made to how we conduct business and conduct our daily lives. The GDPR has created Union-wide rules and standards that must be adhered to as new technology is adopted, and more personal data is available and shared.

The GDPR mandates that individuals have more control over their data, who can access it, and how it will be used. Beyond this, the GDPR also legislates certain protections that all businesses must have in place if they are storing customer records. This includes regulations on how data will be stored, partitioned, and accessed. Each of these regulations is intended to help individuals maintain their privacy and control in an era of sharing data, and to prevent breaches from compromising this privacy.

Every business in the EU has a responsibility to ensure they are in compliance with the GDPR. This has been a burden on some small operations, but compliance is essential nonetheless. Those found to be outside of GDPR regulations face massive fines if they are found guilty of violating the regulations.

What makes a business GDPR compliant?

To become completely compliant with the GDPR, there are a few steps each business must take, and changes that need to be made to how data is stored, partitioned, and accessed.

Complete compliance includes ensuring every member of staff is in total understanding of the regulations, and that every business gives individuals the opportunity to control the information stored in a database.

How does my business become GDPR compliant?

GDPR compliance can be overwhelming for many businesses, particularly smaller operations without a robust IT staff. Even businesses not primarily focused on IT have some adjustments to be made if they are to fall within GDPR compliance – and luckily, Active Optimus Group Guernsey can help.

With new technologies emerging all the time, and the way we interact with our clients and customers a constantly evolving situation, GDPR compliance is also something that shifts from day-to-day. Active Optimus Group can provide your staff with the guidance they need to get in compliance, and the education they need to maintain that compliance.

GDPR can be very complicated and having an expert on your side can help you make the changes you need to without interruption to your business.

How to select a Data Protection Officer in Guernsey (DPO)?

The Data Protection Officer plays a very important advisory role. When selecting one, a company needs to balance the knowledge and experience required by a person filling the position with experience. Seniority is another factor if choosing a candidate internally.

The Data Protection Officer needs a thorough understanding of data protection laws and practices. The candidate must know and fulfill all the functions and obligatory requirements outlined in the GDPR.

Outsourcing is often a good choice when filling a DPO vacancy. Using a firm that specialises in GDPR compliance as the DPO will help ensure that all regulatory obligations are met. The company can provide internal support.

Should you choose to fill the DPO position internally, or consider hiring a expert consultancy firm to support the DPO with GDPR compliance?

Compliance Support in Guernsey

Compliance Support in Guernsey

The new regulations outlined by the AiFMD can be daunting for any business or AiF professional. If you feel overwhelmed by the new regulations, know you aren’t alone. You don’t need to figure out every element of compliance on your own and given the new and strict restrictions that have been put in place, it is unwise to risk your business, your reputation, and your license.

Active Optimus Group in Guernsey can make Compliance more straightforward, digestible, and possible for any AiF firm.

Who can help us with AiFMD Compliance?

Following financial regulations within the EU is more difficult than ever before. Though these regulations ultimately exist for the protection of the whole Union’s financial health, it can be quite time consuming to change operations to fall within the guidelines. Active Optimus Guernsey specialises in helping AiF managers to achieve full compliance under these confusing new regulations.

Active Optimus Group are compliance specialists, and even if you feel there is a lot of work to be done within your business, we can help to get you there. With full insight into your business, we can guide you into the new era of AiF operation.

Active Offshore’s Compliance services include a complete, on-site review of your operations and regulations. Our complete reporting and comprehensive information will identify all the steps you need to take to fall into compliance, and how to get there. Active Optimus goes beyond the bare minimum, ensuring your operation can prove without a doubt that you fall completely within regulation.

Like anything difficult, compliance can be achieved one step at a time, and Active Optimus can guide you every step of the way. Our comprehensive guide and knowledgeable experts will ensure our compliance consultation results in real changes for your business.

How does Active Optimus Group help with compliance support?

Active Optimus Guernsey is completely dedicated to ensuring our clients pass compliance. This means reviewing every part of a business operation to point to any risks and implement controls and regulations to keep your operation running safely. Active Optimus Group helps with compliance in several ways:

  • We can help guide your Compliance Officers through training and necessary changes, or even act as company Compliance Officer for smaller firms.
  • We provide complete compliance training and follow-up support for all our compliance.
  • Active Optimus can help to provide complete AML and CFT guidance and training.
  • All manuals, guidance, and paperwork needed to help your company achieve full compliance Provision of Compliance Officers to work with your business.
  • Conducting complete risk assessments on any operation, or proposed business.
  • Providing corporate governance reviews and assessments.
  • On-site compliance monitoring with follow-up support and education.

Active Optimus Group Guernsey is one of the most respected firms in compliance management. Whether you’ve had trouble with compliance before, or are acting proactively to protect your business, Active Optimus Group can help you achieve your goals cautiously, effectively, and efficiently. For AiF managers, compliance has never been more important, and it is essential all financial operations find the professional support they need to maintain compliance, their reputation, and their operation licenses.

Compliance Officer in Guernsey

Compliance Officer Guernsey

Part of the mandate of the Fourth Anti-Money Laundering Directive requires all Alternative Investment Fund businesses to appoint an internal Compliance Officer. The role of the Compliance Officer is to get a thorough understanding of every regulation and requirements outlined in the AiF Directive and be sure the business maintains compliance with these standards.

The Compliance Officer has a large and necessary role within the AiF business, and it can be a very difficult position to be in. A Compliance Officer must dedicate themselves to constant learning, engaging, and be aware of news related to the financial sector. In recent years, regulations have changed much faster and much more dramatically than ever before, and more change is set to come.

The Compliance Officer is also tasked with having total insight into the business they work for, knowing all internal procedures, risks, and how clients and portfolios are vetted.

Bringing together all this insight and knowledge, the Compliance Officer coordinates many moving parts to be sure the business complies and minimise the risk of future issues with fraud.

How do Compliance Officers do their work?

Being a Compliance Officer is no small job. They are placed in a very difficult position, parsing information about their business, compliance regulations and international law to be sure every component of a business is functioning well. Part of a Compliance Officer’s mandate is to ensure all existing employees, and all new hires, are informed, up to date, and practicing the necessary procedures that protect a financial organisation.

The Compliance Officer will work with every staff member and division to get insight, conduct training, and make changes as necessary. What’s more, they are required to be future-focused, trying to anticipate future changes and risks, and finding ways to deal with them internally.

How can we be sure we are complying?

The main job of The Compliance Officer is to ensure your business is complying with all financial regulations, but the truth is, you cannot rely solely on a single employee to ensure all standards are being met. No matter how large the company, the Compliance Officer faces challenges, either tasked with a massive workforce to deal with, or a very small staff and limited resources.

Active Optimus Group in Guernsey can help your Compliance Officer manage the massive job they have to handle. We offer complete compliance services and training with our comprehensive compliance plans. We provide documentation, policy guidance, and on-site visits to help your Compliance Officer do their job well. In small firms that may not have enough staff to appoint a Compliance Officer, Active Optimus Group specialists can even fulfil that role.

Active Optimus Group Guernsey is dedicated to understanding Compliance and helping all AiF firms get their businesses up to standard. Our professional support can help any AiF business ensure they update their operations to fall within compliance, and ensure you’re operating as effectively as possible.

Compliance Monitoring Guernsey

Compliance Monitoring Guernsey

The regulatory environment has seen some significant changes in the past, and it is an ever-changing environment which you are expected to adjust to, as and when the changes occur.

Why is compliance monitoring necessary?

You need to monitor your processes and ensure you meet compliance standards always, otherwise you risk losing your business and your license.

At Active Optimus Group, compliance monitoring in Guernsey is one of our specialities. We perform vigilant checks to ensure your business is consistently adhering to the standards to ensure you don’t encounter any issues or make your business vulnerable to fraud.

Is compliance monitoring mandatory in Guernsey?

The Guernsey Financial Services Commission (GFSC) perform visits and audits to ensure financial firms are complying with all financial standards and regulations. If your business is failing to comply or is at risk of non-compliance through a lack of monitoring, you are at risk of losing your licence to operate, and your reputation is under threat.

How does compliance monitoring work?

Active Optimus Group visit each branch of your business regularly and work with all your AiF licence holders to ensure they are kept up-to-date, and they will form a part of our analysis.

AiFMD compliance support Guernsey at Active Optimus will choose files at random and analyse them to ensure your practice is complying with the AiFMD. We will review everything, including filing, administration, decision making, risk assessment and internal policies, so that we can identify specific risks and implement policies and procedures to minimise them.

Will compliance monitoring guarantee industry standards are met?

Compliance is our specialty at Active Optimus Group, and we offer a very thorough compliance monitoring system to ensure the expected standards are achieved. Our extensive programme works though each element of compliance step-by-step, making sure your business is completely covered.

Active Optimus Group will provide you with a detailed report exposing your areas of risk so all involved in the process can easily review and make the necessary adjustments to ensure full compliance. This compliance monitoring will help ensure you pass auditing by the GFSC.

AML Training in Guernsey

AML Training in Guernsey

With the introduction of the European Union came an increased risk of globalised crime, and the Fourth Anti-Money Laundering Directive was introduced to ensure every business in the financial sector fell within certain guidelines to discourage fraud and identify it when it takes place. In the past, similar directives have applied only to standard financial institutions, but the Fourth AMLD now applies to all Alternative Investment Fund (AiF) professionals.

The Alternative Investment Fund Managers Directive (AiFMD) outlines all practices that AiF Managers must adhere to, and the Fourth Anti-Money Laundering Directive falls under this legislation. There have been massive changes to AiF Managers in all parts of Europe since they have typically been a less-regulated part of the finance industry.

The AML Directive mandate that AiF Managers and businesses conduct regular reporting and compliance testing and that specific administrative internal practices be adhered to, to minimise the chances of fraud. These new requirements may be overwhelming to even the most experienced AiF professionals.

These new mandates constitute massive changes to how many AiF managers conduct their business. Luckily, Active Optimus Group Guernsey can help to guide any practice through an AML review, and then provide any necessary training to be sure that your practice stays in compliance and licensed under these new Directives.

Why does my business require AiF training?

Active Optimus Group can guide you through all aspects of an AML review. But, to ensure your business is protected from any risk of fraud or money laundering, your staff requires thorough training to maintain compliance and security all year long.

Active Optimus Group in Guernsey can provide training sessions, and the instructions your staff need to ensure they are maintaining compliance and are poised to spot fraud before it develops. Having your key staff members invested in compliance makes your business more secure and less vulnerable to problems.

What do staff learn in AML training sessions?

Money laundering is a complex problem requiring diligence from everyone to eliminate. AiF professionals and operations are required to protect themselves against obvious, intentional business fraud, and for indirect risks that can allow them to become involved in fraud by their customers and clients.

There are many risks to any financial business, and issues like poor administration procedures, lack of reporting and insight, and lack of due diligence with contacts are all ways you can be at risk. Risks can be both internal and external, and it is important to protect your business from being taken advantage of.

In an AML training session, Active Optimus Group provides insight to professionals to help them vigilantly maintain compliance and arm their staff with the knowledge they need to avoid fraud. Our training sessions will guide staff on:

  • How to properly maintain records, and what information needs to be kept on file.
  • Which reporting and benchmarking procedures are required to maintain internal control.
  • How to conduct a risk assessment of new and existing clients and policies.
  • How to maintainpolicies for compliance management.

Active Optimus Group Guernsey provides initial training and on-boarding sessions, and continued refresher courses to help your operation to minimise every type of corporate risk. Our profession is compliance, and our state-of-the-art training program will ensure your operation is always up-to-date on issues of compliance and financial security.

AML Reviews in Guernsey

AML Reviews Guernsey

When the EU was first formed, there were a lot of complications in bringing together many disparate financial regulations from different countries. With many regulations in place, the risk of fraud and money laundering was recognised as a huge risk, and in 2015, The Fourth Anti-Money Laundering Directive (AMLD) was introduced.

With the introduction of the AMLD, regulations surrounding compliance, reporting, and auditing have become much stricter for every member if the European Union and the regulations surrounding money laundering are much more complex and wide-reaching than ever before.

What constitutes money laundering?

Money Laundering is a shockingly common criminal practice. It involves passing money that is obtained illegally through the finances of a business as a way of removing traces of the origins of the money. Some companies are established for the sole purpose of laundering money.

When the EU was formed, different financial regulations in each country made the possibility for money laundering more likely, and the Fourth AML Directive was created to help create universal regulations and cut down on money laundering fraud.

Completing an AML Review

Completing an Anti-Money Laundering (AML) Review is a requirement for businesses within the EU, and the purpose is to determine who truly owns businesses, accounts, and trusts. The Fourth AMLD was created in part to ensure no European activities were funding terrorism, and there was complete financial transparency among the united countries in the EU.

In an AML review, the products, services, clients, and operation details of a business are confirmed and noted. In a complete review, the business will diverge complete ownership details, information on which areas of the EU the business operates in, the financial history and health of the organisation, and all internal policies.

For any business not involved in fraud, conducting an AML Review is simply a compliance requirement and one that can help protect a business from future risk. Any business is open to fraud through error, or through the illegal actions of an employee or vendor – and an AML helps prevent these issues by ensuring important policies and procedures are in place.

Compliance is the name of the game at Active Optimus Group. Our compliance services will ensure your business is in complete compliance with the Fourth AML Directive, and other financial regulations mandated in your area. We conduct a complete assessment of your business, noting the risks, areas for improvement, and what needs to be done to fall into compliance. When our compliance and review services finish, you’ll know without a doubt that your business is functioning within regulation and is safer than ever from the risk of fraud or error.

How do I Conduct an AML Review?

A complete AML review requires an outside expert to review your business and operations to be sure you’re in compliance. Active Optimus Group offers a compliance monitoring program, which gives you access to personal onsite visits from our professional compliance staff. We will visit every part of your operation to ensure you meet regulations in every way.

To take a view of your operations, our compliance specialists will usually do a random review of the different files within your operation, ensuring they adhere to AML regulations. We’ll look at your standard operating procedures, your administrative guides, your documentation, and storage of client files, and how you conduct due diligence in your business dealings.

With all these items of information, Active Optimus Guernsey can give any business a complete risk assessment, and list of tasks they must complete to comply.

Is an AML Review Mandatory?

An Anti-Money Laundering Review is not mandated for every single business in the European Union, but it is something that every business should try to undertake. Businesses and individuals who work within the financial sector are mandated by law to conduct regular AML reviews to reduce risks to their business, and the larger community.

Money Laundering benefits only those who get away with the crime; it poses a massive financial risk to businesses, and individuals who may fall into the scheme. Many businesses have fallen victim to an immoral employee who saw a loophole in procedures, and regular AML reviews help to reduce your financial and reputational risks.

With new technologies and procedures developing all the time, and an increased emphasis on global transactions, businesses now face the additional risk of falling victim to Money Laundering schemes. These changes mean that antiquated systems of auditing and control may fall short when it comes to combating modern money laundering fraud.

Active Optimus Group Guernsey provides a thorough review of all the risks associated with money laundering and can help you understand and mitigate them. We’ll review every part of your operations, identifying risks and points of security that must be improved. When our assessment is complete, we’ll have a complete set of improvements to follow to get your business up to date and in compliance.