A GFSO licence cannot issue, or be kept, without named individuals holding the Senior Executive Officer, Compliance Officer and Money Laundering Reporting Officer functions, and a small firm rarely has three such people ready on day one. Basnet Law Pte.

Mapping every role to the Controlled Functions, from Senior Executive Officer to Responsible Officer, and advising which combinations the Regulator is likely to accept.

Preparing and lodging Approved Person applications with the individual's countersignature, and running the firm's own fitness and competence enquiries first.

Advising on the residence requirement for the SEO, Compliance Officer and MLRO, and preparing waiver applications where a Compliance Officer or MLRO will sit outside GMC.

Structuring shared Compliance Officer arrangements and group-hub outsourcing so the firm stays within the outsourcing rules.

Providing ongoing compliance support to the appointed officers: compliance manual, monitoring programme, AML manual, whistleblowing policy and training records.

Managing changes: extensions of approval, temporary cover, withdrawal requests and replacement appointments within the deadlines.

Licence applicants assembling a first management team before the In-Principle Approval condition on key personnel falls due. Small Licensed Firms, fund managers and advisers that want a proportionate compliance function. International groups placing a hub executive over a GMC subsidiary or running due diligence from abroad. Existing Licensed Firms replacing a Compliance Officer or MLRO at short notice.