Compliance Outsourcing & Advisory

Yes. SYSC 8 of the FCA Handbook permits outsourcing of compliance functions to a third-party provider, provided the firm retains ultimate responsibility and oversight. The FCA requires that outsourcing arrangements do not impair the quality of internal controls or the regulator's ability to supervise the firm. A formal outsourcing agreement must be in place, and firms must conduct appropriate due diligence on the provider, maintain adequate oversight, and have contingency plans. MEMA acts as your outsourced compliance function under a robust service-level agreement.

An outsourced compliance officer provides regulatory advice, designs and executes compliance monitoring programmes, reviews and updates policies and procedures, delivers staff training, assists with FCA reporting and notifications, manages regulatory change impact assessments, and acts as a point of contact for the FCA where agreed. At MEMA, our outsourced compliance officers are experienced ex-regulators and Big 4 consultants who integrate with your team to provide the same level of support as an in-house function.

Typically £2,000-£8,000 per month depending on firm size, complexity of permissions, and the scope of services required. Smaller firms with straightforward permissions may fall at the lower end, while firms with complex regulatory obligations, multiple business lines, or Consumer Duty requirements may need more comprehensive packages. MEMA offers flexible engagement models including monthly retainers, project-based pricing, and ad-hoc advisory hours to suit different budgets.

Outsourced compliance provides access to a broader team of specialists at a fraction of the cost of a full-time hire. An in-house compliance officer typically costs £60,000-£120,000 per year in salary alone, plus training, systems, and management time. Outsourcing gives you access to ex-regulators with cross-sector experience, continuity of service without single-person dependency, and scalable support that adjusts to your firm's needs. The FCA does not distinguish between outsourced and in-house compliance -- both must meet the same standards.