A Guide to Completing a Compliance File Review

Using the iC2 Compliance Hub, a Compliance Manager can complete a Client File Review.

This is a guide to using the Compliance File Review function in iC2.

Step 1: Create New Review

From the Left Menu, select Compliance Review.

Then click the Create New Review button.

Step 2: Complete New Review Popup

Fill out the new review popup, including the review type, client details and adviser details.

In the Key Advice Documents section, you will need to look through the files provided by the adviser and enter the date of the various key documents.

Once completed. click the Save button.

Step 3: Start The Review

To start the review, click on the Start Review button

Step 4: Complete the Review Questions

Move through the wizard and assess whether the file fails or fails each best interest duty step.

1. Based on the customer file, did the adviser pass or fail this step?

2. Select the most appropriate response based on your findings.

3. Tailor the response to give more detailed reasoning to support your findings.

4. If the adviser failed this step, add your observations made.

5. Move to the next step.

   Continue this process for each step.

Step 5: Adding Observations

To add a new observation, click the add icon

Throughout the review process, you may make some observations about the file that the adviser or compliance team may need to remediate.

The observation dropdown has a list of sample common file observations.

Fill out the details of your observations and include any actions required.

Make sure you explain your observation in detail, and include any remediation actions that need to be taken by the adviser or compliance team.

This may include raising a reportable situation.

Step 6: Print Review Report

Once you have completed your file review

You can print the review report by clicking the print icon.