Compliance checks
Templi checks a suitability report written in Templi against the FCA Handbook rules that apply to it, and against the case it was written from, then lists what to fix, what needs your judgement and what is met. It reads the report together with the files and the conversation behind it. A check is not a compliance sign-off. Your firm decides.
Before you start
Compliance checks are part of the Firm plan. On other plans the Compliance page explains what is included, and asks your billing admin to upgrade when you click Ask your admin.
Templi checks reports your firm has written in Templi, from a template or in a chat.
Owners, Admins and Members can run checks and record decisions. Readers can view results only.
Where to find it
Compliance at the bottom of the sidebar opens the list of reports, at
https://app.templi.ai/compliance.Each check has its own page, at
https://app.templi.ai/compliance/checks/<check>.Settings are in Customise > Compliance, at
https://app.templi.ai/customise/compliance, or from Compliance settings on the Compliance page.
Find a report to check
The Compliance page lists your firm's reports with when each was written, who wrote it and the result of its latest check. Search by report or client name, or filter the list.
Filter | Shows | Link |
|---|---|---|
To check | Reports with no check yet |
|
Needs attention | Checked reports with items to fix or review |
|
No gaps found | Checked reports with nothing outstanding |
|
All | Every report |
|
A checked report shows a short result, such as 2 to fix, 3 to review, 1 may be elsewhere, or No gaps found, with how long ago it was checked.
Run a check
On the Compliance page, find the report.
Click Run check.
Templi's Compliance agent opens in a chat and works through the report: which rules apply, each rule in turn, the items that need a closer look, and a comparison with the case files. You can leave the page while it runs. The result is saved against the report and shows on the Compliance page.
If a check does not finish, the report shows Check failed. Click Try again.
Read the results
Click View results on a checked report. The top of the check shows how many FCA rules were checked, the date of the Handbook they were checked against, and the totals for To fix, Your judgement and Met.
Switch between Issues, All and Met to choose what is listed. The first section, From the case files, lists what the files and conversation show that the report leaves out, contradicts or cannot support. The rule groups follow, such as Suitability report content, Costs and charges, Pensions and Defined benefit transfers.
Item status | Meaning |
|---|---|
To fix | The report does not meet the rule. |
Needs your judgement | Whether the rule is met depends on a call your firm makes. |
Not in this document | Templi could not find it in the report. It may be in another document. |
Met | The report meets the rule. |
Open an item to see why Templi reached its view, the passage it relied on in the report or a case file with its page, and the Handbook provisions it cites. Each provision is marked Rule: must, Guidance: should or Evidential provision.
The side panel lists the files Templi read under Case read. When a report has no chat or files, Templi checks it against the FCA rules only.
Record your decisions
You can overrule any item. Your decision stays with the result.
Mark as met or Mark as not met asks for a Reason. Your name, the date and the reason are kept with the item.
It's in another document, on a Not in this document item, lets you pick the file that covers it, such as a separate costs and charges disclosure.
Correct this, under What we understood in the side panel, fixes Templi's reading of the report. Untick anything that is not true of the document, tick what it missed, then click Check again with these answers.
When you have changed the report, click Re-check to run the check again. Open report takes you to the report.
When a check finds issues
The report's author gets a Needs you item, such as Check the compliance issues on Sarah Winters pension transfer report, on their home page and on the client's Activity tab. Click Review to open the check, or Re-check from its menu. The item clears itself once no issues remain.
Compliance settings
Customise > Compliance shows whether your plan includes checks, how many FCA rules are checked on every suitability report, and whether the Handbook is up to date. We check it against the FCA Handbook weekly, and past results always show the Handbook date they were checked against.
MiFID or optional exemption business is on by default. When it is on, investment advice is checked against COBS 9A as well as COBS 9. Turn it off if your firm only advises on pensions, protection or mortgages.
What a suitability report check covers lists each rule group and how many rules it has. Mortgages, protection and equity release are not part of the check.
Ask Templi
Ask in any chat and Templi hands the work to its Compliance agent. For example:
Run a compliance check on Sarah Winters' pension transfer suitability report.
What did the last compliance check on Sarah Winters' ISA report find?
Mark the costs and charges item as met. The figures are in the appendix.
Write up the compliance check on Sarah Winters' annual review report as a document for her file.
A written-up check is saved as a Word document in a Compliance Reports folder, linked to the client.