The changes of the CSP Rulebook and the new Draft of the Trust and Fiduciaries Rulebook.

🚨 CSP Rulebook:

The latest changes to the CSP Rulebook impacted the Certificate of Compliance which is now part of the Annual Compliance Return (ACR), simplifying the process. Partnerships now only need to submit a basic income statement and balance sheet, and compliance checks are now annual. There are also new requirements for partnerships, and Approved Persons appointments and compliance checks are now handled annually.

⚖️ Draft Trust and Fiduciaries Rulebook:

The Draft Rulebook stricter governance and internal control requirements for fiduciaries, ensuring transparency and addressing conflicts of interest. It strengthens risk management obligations, with a focus on assessing and managing financial, legal, and reputational risks. Key fiduciary roles now have more rigorous qualifications and training requirements, and the fit and proper person test is reinforced.

At RMC, we simplify these regulatory changes to help you stay compliant and focus on growing your business. 📈