• 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
  • 19 Apr

    Retail Distribution Review (RDR)

    Going beyond a tick-box culture

    2013 has already been a busy year for Wealth Management regulation. RDR arrived at the beginning of the year and the new FCA officially came into being on 1 April. Together they represent a radical shake up of the requirements placed on firms to manage, assess and record their advisors’ competence, conduct and performance to required professional standards.

    By Neil Herbert News
  • 10 Apr

    T&C News Article

    Why just completing required CPD hours won’t be enough for the FCA – T&C and Conduct issues – should drive CPD not the other way round.

    By Neil Herbert News
  • 09 Apr

    Conduct, Training & Competence – policies in practice?

    The FSA/FCA have clearly signalled their intention to place Conduct – ethics/integrity/TCF – and Training and Competence –T&C – at the heart of on-going regulation and enforcement.

    By Neil Herbert News
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