Tag: Conduct Page 1 of 2

A Day in the Life of a Compliance Officer

Compliance officers perform a crucial role in any financial company, but what do they do with their days and how is the role changing?

There aren’t many children who tell their parents they want to be compliance officers. Indeed, there are plenty of people within a firm who might look down on them – giving them the slightly derogatory term ‘business prevention department’. However, that’s not quite right. Most would see it as business preservation and in an increasingly fast-moving regulatory environment, their role has become more important than ever.

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The Key Conduct Challenges Confronting Financial Services Firms

Concluding our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we examine the key conduct challenges confronting corporations.

As we were writing this, the fallout of the Carillion collapse was unfolding live on the news websites. With each day – even hour – it seems we’re treated to fresh and even more disturbing revelations. The response from the public seems to be a roll of the eyes at another corporation found to be failing in its duty.

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What business activities might undermine good conduct in your firm?

In this 6th post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at what factors might undermine good conduct in your firm.

Well placed intentions are laudable, but what happens if your day to day operations work against it?

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How does your Board get an Oversight of Conduct in your Organisation?

In this 5th post in our series of blogs on the FCA’s increasing focus on corporate conduct, we look at how boards can get an oversight of conduct.

It’s a problem we often see in business. A corporation establishes a clear set of corporate guidelines but fails to follow them throughout the company. The problem – for all their good intentions the board fails to monitor compliance at the coal-face.

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What support does your firm provide to help staff improve conduct?

In this 4th post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at what support your firm provides to help staff improve conduct.

Ensuring good conduct across a corporation is essential.  Once you’ve established a strategy for good corporate conduct, how do you make sure that everyone across the organisation sticks to it?

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FCA Extends Expectations to Unregulated Activities

What key lessons should firms take away from the FCA consultation on codes of conduct for unregulated activities?

In November of last year, the FCA published a draft consultation paper setting out the expected code of conduct for unregulated activities. The move had been coming for some time, as the FCA became increasingly vocal in its criticism of unregulated funds. In 2017 it attracted complaints when it demanded 250 advice firms deliver data on unregulated investment recommendations they had made.

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How can you encourage all staff to take responsibility for managing conduct?

In this third post in our series reflecting on Megan Butler’s speech to the FT Investment Managers Summit, we look at how you can encourage all staff to take responsibility for managing conduct.

Risk management is suddenly flying up the corporate agenda. As regulators increase their expectations, the financial services are responding. Even so, many firms still have a gap in understanding between the executives in the boardroom and the professionals at the coal face. That’s a major problem because as Megan Butler of the FCA said back in September, the landscape is evolving fast.

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What proactive steps do you take to identify conduct risks in your business?

As the second post in our series of seven blogs on the FCA’s increasing focus on corporate conduct we look at what steps a business can take to identify conduct risks.

Many years ago, Donald Rumsfeld attracted widespread derision for his speech about ‘known unknown’ and ‘unknown unknowns’. It was clumsy, perhaps, but he was onto something. In the business world there are many things we don’t know. Some we’re aware of, but others would take us completely by surprise. The same is true in the regulatory environment.

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5 Basic Conduct Questions Financial Services Firms Must Ask Themselves

In the first part of a series of seven blog posts, we look at the 5 basic conduct questions that arose out of Megan Butler’s speech at the AFT Investment Summit last year.

In September 2017, Megan Butler, Executive Director of Supervision – Investment, Wholesale and Specialists at the FCA, gave a speech on “Where next for investment and asset management regulation?”

She was speaking at a time when the investment community is facing a host of challenging questions.

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How Financial Services Firms Can Learn from the Lessons of the Past

Learning from the lessons of the past can help the financial services industry ride the rough regulatory waves of 2018.

Fear of failure. It’s something we all feel at one time or another, and it can hold us back from truly achieving our goals.

However, if we learn lessons from the past, failure can be one of the best teaching tools around.

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