What is banking compliance and why is it important?

Banking compliance refers to the process and controls that banks put in place to ensure they adhere to applicable laws, regulations, and industry standards. It is crucial to manage legal risk, build trust with regulators, and maintain operational integrity.

Which regulations are applicable to banks in the UK?

In the UK, banks must comply with regulations such as the Financial Services and Markets Act, Prudential Regulation Authority (PRA) rules, Financial Conduct Authority (FCA) regulations, anti‐money laundering (AML) laws, and data protection requirements.

Do you assist with obtaining banking licences and regulatory authorisations?

Yes. ABM Global Compliance provides support throughout the process of obtaining banking licences and regulatory authorisations, including preparing documentation, liaising with regulators, and ensuring ongoing compliance.

What is involved in a banking compliance audit?

A banking compliance audit involves reviewing policies, systems, and practices to identify gaps in regulatory compliance; assessing risk exposure; and recommending corrective actions to ensure full compliance with applicable regulatory standards.

How can strategic compliance solutions help my bank?

Strategic compliance solutions help banks align their compliance frameworks with business goals, implement robust systems for risk mitigation, and stay ahead of regulatory changes to avoid fines and reputational damage.

How do you monitor changes in banking regulation?

ABM Global Compliance tracks regulatory updates from bodies such as the FCA, PRA, and other relevant international regulators and reviews internal policies accordingly; we also provide advisory services to adapt to new requirements quickly.

Is there ongoing support after compliance frameworks are set up?

Yes. We offer ongoing monitoring, periodic reviews, staff training, compliance reporting, and adjustments to your framework as regulations evolve.

How do I start working with ABM Global Compliance for banking services?

You can contact us via phone at +44 207 515 7080 or email info@abmglobalcompliance.com/ca. We begin with a discovery call to understand your needs, then propose a tailored compliance plan.

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Designing Comprehensive Compliance Frameworks for Banks

ABM Global Compliance develops and implements end-to-end compliance frameworks for Canadian banks and deposit-taking institutions. Our frameworks align with federal and provincial regulatory requirements, including those issued by the Office of the Superintendent of Financial Institutions (OSFI), Department of Finance Canada, and Bank of Canada. We design governance structures, conduct risk policies, AML/CFT programs, credit and operational risk procedures, and outsourcing controls. We also integrate automated monitoring systems to support real-time risk management and ensure institutions remain resilient, scalable, and fully compliant.

AML/CFT Program Development & Reviews

We help Canadian banks meet the stringent AML/CFT obligations under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) and guidelines issued by FINTRAC. Our services include developing CDD/EDD procedures, sanctions screening, transaction monitoring, and suspicious transaction reporting (STRs). We also conduct independent reviews and compliance health checks, ensuring institutions are prepared for FINTRAC and OSFI inspections.

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Regulatory Licensing & Advisory for Banks

ABM advises on licensing and regulatory submissions for Canadian banks, trust companies, and foreign bank branches under the Bank Act and provincial rules. We assist with new license applications, cross-border banking compliance, and regulatory gap assessments, ensuring institutions meet prudential, governance, and conduct requirements.

Outsourced Compliance Functions

We provide outsourced roles such as Chief Compliance Officer (CCO), AML Compliance Officer (AMLO/MLRO), and Data Protection Officer (DPO). Our outsourced compliance model delivers regulatory reporting, governance updates, monitoring support, and risk advisory, enabling institutions to maintain high compliance standards without significant overheads.

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Banking-Specific Training and Capacity Building

ABM delivers specialized training programs tailored for Canadian banks. Topics include AML/CFT compliance, conduct risk, OSFI guidelines, risk governance, outsourcing requirements, and internal controls. Using simulations, workshops, and e-learning, we help foster strong compliance cultures across institutions.

Internal Audit & Regulatory Readiness Reviews

We conduct independent audits and mock regulatory inspections aligned with Canadian banking laws and supervisory expectations. Our reviews cover AML/CFT, KYC, risk management, and governance practices. Each audit concludes with detailed reporting and remediation guidance to strengthen regulatory preparedness.

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Cross-Border & Global Banking Compliance

For Canadian banks with international operations, ABM provides advisory on FATCA, CRS, and global AML/CFT standards. We help harmonize compliance across jurisdictions (e.g., FCA, EU AMLD, FinCEN, HKMA), ensuring seamless coordination between head office and foreign subsidiaries.

Ongoing Compliance Support

We offer retained services with quarterly compliance reviews, regulatory update briefings, and real-time risk dashboard reporting. Our proactive updates help banks anticipate regulatory changes and maintain continuous supervisory readiness.