Blog

  • 14 Jun

    Article in Financial IT – 18 June 2014

    Relieving the pressure on compliance teams

    In the new ‘culture’ that the FCA is advocating and enforcing, everyone has a responsibility for Compliance. A focus on Conduct, quality and suitability of advice, know your customer and general customer and market outcomes must drive outputs in terms of behaviours.

    Click here to read the full article

    By Neil Herbert Articles Blog
  • 14 May

    Article in Global Banking & Finance Review – 23 May 2014

    Overburdened Compliance Staff in Need of Automated Relief

    Pressure on Compliance teams has long been increasing and the FCA has been vocal recently about the fact that it is no longer looking at box ticking and controls. It is interested in ‘outputs’; in terms of how does a compliance activity translate into market or client behaviour and the quality of advice that wealth managers deliver.

    Click here to read the full article

    By Neil Herbert Articles Blog
  • 24 Jan

    Overburdened compliance staff in need of automated relief

    Shock horror. It appears that less than a year after he took the post of head of compliance at Barclays in the wake of the LIBOR-rigging scandal that rocked the City, Hector Sants, former chief of the FSA, has left due to stress and exhaustion.

    By Sue Carter Blog
  • 30 Oct

    The true costs of compliance

    Many firms seem to be congratulating themselves that all their staff have reached threshold competence qualification level 4 or higher and are now logging the requisite CPD hours with the relevant accredited bodies. In due course the SPS’s will be issued and everyone will be happy. That accreditation, however, is only the starting point.

    By Neil Herbert Blog
  • 07 Oct

    The pathway to compliant conduct

    CPD is only part of the journey to compliant conduct and behaviours. It is, in fact, just one input to the process. Simply completing the requisite number of CPD hours does not ensure improvement in or adherence to the higher standards (the outputs) that the FCA now expects (and has clearly signalled will be their focus in future).

    By Neil Herbert Blog
  • 19 Aug

    Where the buck stops on SPS Statements

    One outcome of the Retail Distribution Review is that client-facing individuals are required to obtain a statement of professional standing (SPS) – effectively a practicing certificate – from an accredited body as evidence that they are meeting the standards. The employer must ensure that the required structured and unstructured CPD is completed annually and that relevant Statements of Professional Standing are issued. The latter are issued by the relevant professional body – such as CISI.

    By Neil Herbert Blog
  • 16 Aug

    The new dawn for compliance in the front office

    The compliance breaches at Barclays, HSBC and Standard Chartered have aptly demonstrated the need for a new approach to compliance in the front office. In recent years, there has been too much reliance on a simple ‘box-ticking’ method of delivering compliance training as a way of safeguarding the assets under management and ultimately the corporate reputation of money managers.

    By Neil Herbert Blog
  • 13 Mar
    ‘City under siege’ is a golden opportunity for HR: seize it!

    ‘City under siege’ is a golden opportunity for HR: seize it!

    The continued battering of the City’s bonus and reward culture from all sides — governments, the media, the general public, Billy Bragg, the Daily Mail, well, everyone really — has led to intense scrutiny and discussion of remuneration practices at nearly all banks.

    By Neil Herbert Articles Blog
  • 09 Sep

    Bridging the gap between HR and compliance

    The FSA has developed very big teeth indeed. A quick look at recent enforcement will tell you that and also reveal that issues around conduct, treating customers fairly (TCF) and training and competence are behind a great deal of it.

    By Neil Herbert Articles Blog News
1 2
Twitter Feed
Global regulatory body to launch fresh probe into ETFs https://t.co/MHOwyiv66O #EFT
State of relations: financial institutions and regulators https://t.co/w0bhGDlOJG #financialregulation #insiderdealing
Insider dealing claim false, Börse chief says https://t.co/LuxcoPbC38 #insiderdealing