Tender

TEN-2122-022 Compliance Services

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)

This public procurement record has 1 release in its history.

Tender

06 Jan 2022 at 14:47

Tender Notice
Summary of the contracting process

The National Employment Savings Trust (NEST) is currently conducting a tender process for "TEN-2122-022 Compliance Services". This procurement falls under the financial consultancy category and is based in London, UK. The open tender period ends on 9th February 2022, with the contract expected to commence on 25th May 2022 and last for three years. The contract value is set at £140,000 with an emphasis on securing a supplier who will provide essential compliance services to NEST Invest Ltd, ensuring regulatory obligations to the FCA are met systematically and effectively.

This tender presents significant growth opportunities for businesses that specialise in compliance consultancy and regulatory advisory services, particularly those with experience in the financial sector. Small and medium-sized enterprises (SMEs) that can deliver comprehensive training, compliance monitoring, and support during FCA examinations would find themselves well-suited to compete. Providers capable of adapting to the evolving regulatory landscape and offering tailored services to enhance compliance strategies will likely have a competitive edge in this tender process.

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Notice Information

Notice Title

TEN-2122-022 Compliance Services

Notice 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.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-ed84eae1-3ccf-486c-9afb-77ab87717b11
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/7059b7ae-be0d-4496-b255-3d366084fa8e
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

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

Notice Value(s)

Tender Value
£140,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
6 Jan 20224 years ago
Submission Deadline
9 Feb 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
24 May 2022 - 24 May 2025 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 4PU
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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