There is always pressure on financial services providers from regulatory bodies, members, directors, consumers, shareholders/investors, to comply with the evolving and challenging regulatory landscape. This pressure intensifies in a crises environment where stakeholders expect their own demands to be met. Financial services providers are expected to have the ability to continue providing financial services whilst managing regulatory and compliance risks.

Gravity Quest Consultancy has a dedicated regulatory compliance team comprising of former employees of regulators and professionals with extensive experience working with individuals and institutions to provide:

• Acquiring FSRA Licence and making annual renewals
• Preparation, interpretation and submission of financial returns and annual financial statements
• Compliance with licensing conditions;
• Implementing directives; and
• Maintaining correspondence with the regulatory authority

Our consultants develop customised comprehensive compliance frameworks for each client depending on the available resources and compliance needs to enable them to meet each regulatory requirement in a structured manner.

To help our clients remain compliant we adopt a risk-based approach which identifies the highest compliance risk and make them the priority for controls, policies and procedures. Compliance also involves abiding by the different legislation affecting activities of our clients and laws applicable to the entire financial sector, which include:

• Money Laundering and Financing of Terrorism (Prevention) Act, 2011 (amended 2016);
• Consumer Credit Act, 2016;
• Insurance Act, 2005;
• Financial Institutions Act, 2005;
• Financial Services Regulatory Authority, 2010;
• Securities Act, 2010;
• Cooperative Societies Act, 2003, amongst others