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Remote Compliance Services

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There are 2 services currently available:

Remote File Reviews

The Remote File Review service is designed to enable quick and easy upload of cases for Bankhall to review, as an independent third party. Our experienced team can offer you guidance about the suitability of your documented advice. We will review the regulatory aspects of the sales process and whether the information given has been clear, fair and not misleading. At the end of the review we may suggest actions that should help to minimise your possible risks, regarding any written advice given.

To find out more about the Remote File Review service* click here

Remote Complaints Handling

The Bankhall Complaints Handling Service has been established to assist you in resolving customer disputes. A team of highly trained, dedicated individuals are on hand to offer various levels of service aimed at meeting your specific business needs. These include; drafting acknowledgement and holding letters, reviewing client files, producing reports following reviews, providing assistance in calculating appropriate redress and offering guidance and support on full end to end case handling.

To find out more about the Complaints Handling service* click here

About Remote File Reviews

Bankhall offer two types of Remote File Reviews:

1. Post-Sale
A Post-Sale review is where the advice has already been presented to the client and they have signed the application, which has been sent to the provider.

2. Pre-Sale

A Pre-Sale review looks at your draft documents BEFORE any advice is provided to the client. The client will at this stage be unaware of a specific product recommendation.

It is up to you which documents you submit and does depend on what you want from the review; but we recommend at least the Factfind and Suitability Report. For more detailed information on the types of documents you might wish to submit please click here.

How long will the review take?
We will use reasonable endeavours to provide the services and complete submitted PRE Sale Reviews within 5 working days, excluding the day of receipt. We will prioritise these cases by default because we are 'involved' in the sales process.

For chargeable ad-hoc POST Sale Reviews, we will use reasonable endeavours to provide the services within 10 working days, excluding day of submission. Please note that for any firm with contracted remote file reviews these may take up to 1 month depending on workload. However, we will strive to agree a "review by end date" in most cases and therefore please don't hesitate to contact us to discuss any specific timescales that you have for return.

How will Bankhall review my files?
Bankhall review in a best practice, worst case scenario basis with TCF and the relevant client outcomes for advice and documentation (3 and 4) considered fully. There is no tick box or ‘administration’ style of review completed, each one is holistic and considers the suitability of the advice first before then moving onto clarity of information for the client, finally offering suggestions on how to potentially improve future cases. This approach should help prepare you for every eventuality and is designed to provide guidance far beyond a minimum set of regulatory rules.

What will I receive?
Once the review is complete, a comprehensive report is uploaded to the case, with comments and suggestions throughout suggesting any potential action. Bankhall is not responsible for your advice, nor do we provide formal approval of your recommendations, you remain responsible to the FCA for ensuring that your firm remains compliant. Telephone or email support is available in relation to our reviews, just because the service is delivered remotely does not mean we intend to keep you at "arm's length".

We do not check the compliance of FCA prescribed documents (e.g. SCDD) with the regulatory requirements governing the content or layout of such documents. Compliance document checks are available from the Bankhall Compliance Support Unit team via [email protected]**.

About Remote Complaints Handling

The Remote Complaints Handling service includes:

• Opinion on the merits of the complaint based on past experience of cases handled by the Financial 
Ombudsman Service.
• Assistance in drafting responses to the complainant, including Senior Management Decision Letters
• Offering practical support to help mitigate possible financial redress
• Guidance and assistance in calculating redress for complaints, including (RU89) Mortgage Endowment 
redress calculations
• Providing assistance in drafting correspondence with the Financial Ombudsman Service

Bankhall recognises that responding to and resolving complaints can be a time-consuming process for firms and the service should allow you to spend more of your time on other client activities that will generate revenue/sales. You can also be reassured that a final response and redress calculations are in line with industry standards.

The Complaints Handling team pride themselves on providing a flexible service and are happy to discuss how they can assist you in dealing with any customer complaints. Please call 0845 300 5326, choosing Option 3 and ask for Remote Complaints.

* These services may occasionally be unavailable due to upgrading/maintenance.
** For further information on costs please contact the Compliance Support Unit directly.