Gifts & Entertainment
Check and Demonstrate Your Firm's Compliance Against Each Gifts & Entertainment Requirement:
Direction Classification: Verify inbound or outbound status, with guidance explaining why distinguishing flows identifies influence risks, aligns with ABC policies, and supports audit trails for impartiality.
Date Documentation: Confirm recording of receipt or giving dates, including rationale on why timestamps enable timely reviews, track patterns over time, and ensure adherence to reporting deadlines under SYSC.
Type Specification: Document as gift or entertainment, highlighting why categorisation clarifies intent, applies value thresholds accurately, and mitigates escalation to bribery concerns.
Description Detail: Verify comprehensive event or item descriptions, explaining why specifics provide context for assessments, prevent ambiguities, and demonstrate due diligence in ethical evaluations.
Value Assessment: Confirm accurate monetary valuations, underscoring why this enforces firm limits, justifies approvals, and aligns with FCA expectations for proportionate hospitality.
Parties Involved Identification: Document offered by and received by details, with insights on why naming individuals flags conflicts, enables recusal checks, and upholds accountability in relationships.
Acceptance Decision Logging: Verify yes/no acceptance with reasons, including rationale on why this proves reasoned judgments, reduces undue influence, and evidences compliance with inducement rules.
Firms leveraging RegTechPRO cut tracking time by up to 40%, gain clear insights into regulatory thresholds, and transform gifts oversight from an administrative burden to an ethical advantage.