Published date: 6 January 2022

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 9 February 2022, 5pm

Contract summary

Industry

  • Financial consultancy, financial transaction processing and clearing-house services - 66170000

Location of contract

E14 4PU

Value of contract

£140,000

Procurement reference

tender_295560/1030692

Published date

6 January 2022

Closing date

9 February 2022

Closing time

5pm

Contract start date

25 May 2022

Contract end date

24 May 2025

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

Nest has an ongoing requirement for the provision of compliance services to its FCA-regulated subsidiary, Nest Invest Ltd. Under this procurement we intend to appoint a supplier to provide Nest Invest with these services, for a duration of three years.

The supplier who is appointed will support Nest Invest to ensure that the organisation is:

- discharging all its regulatory obligations to the FCA in a systematic and compliant manner
- effectively managing its day-to-day relationship with the FCA and preserving our good reputation with the organisation
- delivering good-quality training to its staff, as and when required
- supporting the development and delivery of running and operating a thorough and comprehensive compliance monitoring plan
- maintaining a suite of compliance procedures and documentation that is accurate and up-to-date
- advised on current and future regulatory requirements including permissions, fees, and other aspects of the FCA requirements.

Our requirement for Compliance Services can be divided into four specific areas.

1 - general compliance-related services for Nest Invest, principally covering the provision of general support, guidance and advice on a range of topics, including but not limited to formal and informal regulatory enquiries; the impact and effect of proposed or actual regulatory changes; the stipulations articulated in the FCA Handbook; as well as support on the preparation and submission of filings with the FCA.

2 - compliance monitoring, which covers advising on, designing and executing an appropriate compliance monitoring plan and documentation for Nest Invest, with reference to the existing FCA compliance programme. For more information see Area 2, Section 3 below.

3 - the provision of support to Nest Invest, in the event that they are subjected to an FCA examination procedure.

4 - education and training for Nest Invest's management and operational teams.

About the buyer

Address

10 South Colonnade
London
E14 4PU
England

Email

procurement@nestcorporation.org.uk

Website

https://www.nestpensions.org.uk/