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GOVERNANCE, RISK AND COMPLIANCE

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    6 September 2018

    Meet an ICA Member: Muhammad Rizwan Khan

    Who are our members and what can we learn from them?....More

    Words by Meet a Member

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    6 September 2018

    How to make third-party risk management less painful

    Collecting all the information required to manage your compliance programme is not only time consuming but can be costly. So, how exactly do we propose to make this less painful?....More

    Words by Dun & Bradstreet

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    28 August 2018

    The fundamentals of integrity

    Integrity is hard to pin down. We know that some people have it and some people don’t, but in terms of one’s character, true integrity, particularly in adults, is fixed.....More

    Words by Jason Morris

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    15 June 2018

    How important is company culture?

    What is company culture and why does it matter so much?....More

    Words by Jason Morris

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    27 November 2017

    The Department of Mysteries (or What is the Compliance Department actually doing?)

    It struck me that the compliance department has certain parallels with the Ministry of Magic from J.K. Rowling´s Harry Potter series. Both are often misunderstood, mysterious, ‘secretly’ structured but at the same time necessary and important.....More

    Words by Lucie Schweizer

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    9 October 2017

    Sweden: a world leader for transparency

    Openness and transparency are considered as “vital parts of Swedish democracy” and all those principles of freedom are reflected in some fundamental laws which govern the Swedish constitution.....More

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    15 September 2017

    UN Democracy Day: Latin America’s growing intolerance of corruption

    Since 2008, the UN has held its day in honour and promotion of democracy on 15 September. For a cluster of nations across Latin America, this is a date that holds a special reverence, marking their independence from colonial rule: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica all celebrate their independence day on 15 September (with Mexico’s the following day, and Chile’s three days later).....More

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    15 September 2017

    UN Democracy Day: Latin America’s growing intolerance of corruption

    Since 2008, the UN has held its day in honour and promotion of democracy on 15 September. For a cluster of nations across Latin America, this is a date that holds a special reverence, marking their independence from colonial rule: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica all celebrate their independence day on 15 September (with Mexico’s the following day, and Chile’s three days later).....More

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    21 August 2017

    Defining an EU FinTech strategy – where are we now?

    Technological innovation is ceaselessly impacting on many key sectors of our lives, and the financial industry is not immune to it. European institutions are aware that technology-enabled and technology-supported financial services (FinTech) represents a great opportunity for the financial industry.....More

    Words by Nicola Vaccari

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    8 August 2017

    What makes a great compliance officer?

    It’s not just a question of following a rule book, compliance officers need to be able to strike a good balance between commerciality and compliance.....More

    Words by Jennifer Trenery

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    17 July 2017

    Regulatory framework for distributed ledger technology planned in Gibraltar

    Distributed ledger technology (DLT) – of which blockchain is one particular type – is a decentralised database. This means that instead of records being held by one trusted entity that is the true source of the information (which is how many databases operate at the moment in the form of a ‘centralised ledger’), a group of peers maintain a shared database. Therefore, the consensus of the group is the record: there is no single trusted source.....More

    Words by Holly Whitehead

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    26 May 2017

    FA Cup Special: the 4-3-3 lines of defence

    This weekend sees the annual English FA Cup Final. It’s been previously reported that this football match can attract half a billion viewers from across the world. Chelsea won the English Premier League this season. This was widely lauded as being down to a switch to a 3-5-3 formation in the early autumn. Arsenal have often utilized 4-3-3 formation. The ‘3 lines’ seems to dovetail rather nicely with the ‘3 lines of defence’ mode (3LOD), which is widely used in regulated firms to provide a systematic approach to risk management. Let’s explore that a bit further so we can draw out the similarities.....More

    Words by Dave Robson

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    18 May 2017

    Effective Ethics – how to support an anti-corruption compliance culture in Europe

    Panama, Brazil, Afghanistan, China, Malaysia, Pakistan, Ukraine, Angola, South Africa. Examples of corruption cases abound beyond the limits of European geography. A cursory look at the Transparency International Corruption Perception Index shows plenty of low-ranking jurisdictions, many situated at a substantial distance from continental Europe. Does this mean that European companies, executives, regulators and prosecutors can sit back, head early for the beaches of the Mediterranean this summer and leave their international counterparts to manage these anti-corruption risks far from Madrid, Paris, Rome and other EU capitals? Clearly, the answer is ‘no’.....More

    Words by Murray Grainger

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    17 May 2017

    Why We Say Yes

    Why would someone well educated and well compensated risk their own liberty to pay a bribe? Richard Bistrong covers the reasons why we say yes.......More

    Words by Richard Bistrong

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    17 May 2017

    FIFA: The Beautiful Game?

    Fifa, football's world governing body responsible for promoting and protecting the sport, has done more damage to the reputation of the game than any other organisation or individual.....More

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    16 May 2017

    The importance of transparency and challenging a collusive culture

    Listen to Sally Scutt, ICA Strategic Advisor interview Annabel Reoch, UK Head Anti-Bribery and Anti-Corruption, KPMG about the importance of transparency and challenging a collusive culture.....More

    Words by Sally Scutt

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    15 May 2017

    Corruption: Perception and reality

    ICT compares results from the World Economic Forum publishes annual corruption index and Transparency International's Corruption Perception Index (CPI) in this Prezi presentation.....More

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    15 May 2017

    How did we get here – an ABC of Anti Bribery and Corruption

    There is a good chance that corruption is a subject of both personal and professional concern to you. If that is the case, it is a sentiment you share with individuals the world over.....More

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    9 February 2017

    Volkswagen fraud: US issue $4.3 billion fine

    We examine the case of automotive giant Volkswagen, the most recent household name to be hit by US authorities for breaching laws and regulations.....More

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    31 January 2017

    Top FCA Fines of 2016 Infographic

    We break down combined fines of nearly £18 million issued by the Financial Conduct Authority to five top offenders in 2016.....More

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    27 January 2017

    Reviewed: 2016 Corruption Perceptions Index

    Transparency International’s 2016 Corruption Perceptions Index was released this week, so we've taken a look at the more notable movements in this year's report.....More

    Words by Holly Whitehead

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    10 January 2017

    FATF Mutual Evaluation – United States

    The Financial Action Task Force (FATF) released this month their first Mutual Evaluation of the United States since 2006.....More

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    6 January 2017

    Brazilian firms receive largest ever foreign bribery fines

    Odebrecht and Braskem, two Brazilian companies, have been fined at least US$3.5 billion after pleading guilty to bribing government officials.....More

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    5 December 2016

    Financial regulation in the US: an uncertain future?

    The President-elect of the United States is a man on more familiar ground on Wall Street than in Washington DC, and yet Donald Trump will surely be focusing his attention on the banks when he moves into the White House in January.....More

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    28 November 2016

    No Double Dutch in sight! Corporate Governance and Anti-Bribery Standards in the Netherlands

    The Netherlands has a long history of navigating the world and trading with other countries. Trade creates wealth and is a vehicle to spread new knowledge and best practices. But trade also raises tremendous risks, especially in regions outside Western Europe and the United States.....More

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    21 November 2016

    Gibraltar and Brexit – Rock and a Hard Place?

    Brexit has been a huge story all year, and will continue to be so throughout 2017 as Article 50 is triggered. Living and working here in the UK, I’m constantly bombarded with opinions telling me what the potential impact of leaving the EU could have on me and my family’s future. But what about the UK overseas territories? Gibraltar, for example, which, from memory, was the first region to declare their results from the EU referendum on June 23rd - voted an overwhelming 96% for the ‘Remain’ side. What are the implications of the overall result for this unique part of the UK?....More

    Words by Jason Morris

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    11 November 2016

    Cyprus’s economic crisis: why effective GRC is essential

    Numerous reasons have been cited for Cyprus’s economic collapse, but one of the most enduring has been the charge of weak corporate governance in Cypriot banks. The demise of the now defunct Laiki Bank, previously the second biggest bank on the island, is indicative of the weak Governance, Risk and Compliance (GRC) framework that existed across Cypriot financial and governmental institutions.....More

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    3 November 2016

    Greece: Could effective GRC have prevented the economic crisis?

    Governance, Risk Management and Compliance (GRC) have been shown to be interconnected concepts. Applied effectively in a business, they can reduce costs, cut inefficiency and improve communication throughout an organisation; GRC can help ensure a businesses’ goals and objectives are better defined, the company structure improved and regulations properly adhered to. Indeed, strong GRC lays the foundations for potential company growth.....More

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    25 October 2016

    Sweden: A World Leader for Transparency

    Sweden was the first country in the world to introduce freedom of the press as a constitutional right in 1766. This long tradition included the principle of freedom of information, giving both the general public and the mass media access to public records.....More

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    4 October 2016

    Our top seven Switzerland blogs on money laundering, terrorist financing and beneficial ownership

    A round-up of our insight about money laundering, terrorist financing and beneficial ownership in Switzerland.....More

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    25 August 2016

    Germany: Trusting Third Parties

    German companies have developed a complex supply chain integrated by thousands of third parties, subsidiaries and agents worldwide. As the strategic importance – and Compliance risks - of third parties increases, companies have to mitigate business risks while building trust in their partners.....More

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    25 August 2016

    Germany: Trusting Third Parties

    German companies have developed a complex supply chain integrated by thousands of third parties, subsidiaries and agents worldwide . As the strategic importance – and Compliance risks - of third parties increases, companies have to mitigate business risks while building trust in their partners.....More

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    8 August 2016

    Corruption: perception and reality in Ireland

    Corruption can be defined as ‘Dishonest or fraudulent conduct by those in power’ and usually falls into three main categories: grand corruption, petty corruption and political corruption, which the anti-corruption campaign organisation Transparency International defines more specifically.....More

    Words by Holly Whitehead

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    2 August 2016

    Infographic: ICA Open Day - 13 September 2016

    Still wondering whether to come to the ICA Open Day (or one of the local sessions)? Then have a look at our infographic for a few compelling reasons to register your place this year.......More

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    28 July 2016

    Switzerland: Tone from the Top of the Alps

    A high percentage of Switzerland's surface is covered by the Alps. The melting of glaciers, located at the top of the mountains, generates flows of clean – and essential - water for a wide range of ecosystems downstream. This natural geological phenomenon helps us to illustrate the importance of the commitment from the Board of Directors and Senior Management to implement compliance across all hierarchical levels in Swiss companies.....More

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    21 July 2016

    The FCA Annual Report: taking a closer look

    Here in the UK, after weeks of blanket media coverage around Brexit, a change of Prime Minister and the legal complexities involved in the Labour leadership election, we could be forgiven for wanting a change of subject matter. So the Financial Conduct Authority’s (FCA) Annual Report for 2015/16 could provide a welcome respite for financial services professionals, though it’s not exactly what you might call light reading.....More

    Words by Mary Munford

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    12 July 2016

    Corruption: perception and reality in the Netherlands

    Corruption can be defined as ‘Dishonest or fraudulent conduct by those in power’ and usually falls into three main categories: grand corruption, petty corruption and political corruption, which the anti-corruption campaign organisation Transparency International defines more specifically.....More

    Words by Mary Munford

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    10 June 2016

    Tone from the top: back in the spotlight

    Ethics is high on corporate agendas these days. The financial crisis of almost a decade ago has had far-reaching implications, not least in encouraging the leaders of companies in all sectors to take a long, hard look at how their organisations do business and whether they are doing it in the right way.....More

    Words by Mary Munford

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    9 May 2016

    Leicester City FC – A benchmark of good culture?

    I, along with almost everyone in the country (save, perhaps, for a small section of North London), have probably been celebrating Leicester City’s Premier League success alongside the good people of Leicester. It’s one of those events that come around every now and again, which allows us all to jump on board the ‘feel-good express.’....More

    Words by Jason Morris

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    19 April 2016

    Culture still a priority for FCA despite abandoned review

    The year began with the FCA coming under heavy criticism for suspending its thematic review into banking culture. However, the regulator recently reaffirmed in its Business Plan for 2016/17 that firms’ culture and governance is one of the seven priority themes around which it will organize core activities for the coming year.....More

    Words by James Thomas

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    31 March 2016

    Compliance: votes from the Spanish jury

    Enforcement remains one of the unknown quantities following Spain's long-awaited Compliance reform in mid-2015.....More

    Words by Murray Grainger

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    30 March 2016

    Cumplimiento: los votos del jurado español

    Tras la esperada reforma sobre cumplimiento en España de mediados de 2015, su aplicación sigue siendo una de las grandes incógnitas.....More

    Words by Murray Grainger

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    14 March 2016

    Transforming whistleblowing culture for the long term remains a challenge

    Since the Financial Conduct Authority (FCA) replaced the Financial Services Authority there has been a short run, but dramatic, trend in the UK towards greater whistleblowing activity. 2014 saw 1,367 complaints reported to the FCA, an increase of 44% on 2013 and of 142% on 2012. However, in 2015 reported complaints declined by a fifth compared with 2014, according to law firm Pinsent Masons.....More

    Words by James Thomas

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    8 March 2016

    International Women’s Day 2016: What’s it got to do with governance, risk and compliance?

    How equal are women? According to the World Economic Forum (WEF), not very. It released the startling estimate that we will have to wait until 2095 to close the gender gap. The UN has pledged to tackle this and want to achieve gender equality by 2030.....More

    Words by Simone Jones

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    26 February 2016

    Vulnerable Customers and Conduct Risk

    The Telegraph wrote an article this week entitled “Banks ordered to treat vulnerable customers with empathy”, which looked at a problem that exists in banking where vulnerable customers are still being treated poorly.....More

    Words by Jason Morris

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    28 January 2016

    Corruption in Sport – Lessons Learnt

    2015 proved a busy year for corruption scandals in sport, arrests and resignations of FIFA officials and allegations of cover ups of doping in athletics have shocked many. So maybe 2016 will offer some respite to weary folks? Not so far.....More

    Words by Simone Jones

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    19 January 2016

    Frequently asked questions about the UK Senior Managers & Certification Regime

    If you work in regulated financial services in the UK, you will have heard about the UK Senior Managers & Certification Regime by now. There’s quite a lot to it, so ICA have summed up some of the key information in some FAQs.....More

    Words by Mayya Konovalova

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    5 January 2016

    Infographic: ICA Open Day - 3 February 2016

    Still wondering whether to come to the ICA Open Day (or one of the roadshows)? Then have a look at our infographic for a few compelling reasons to register your place this year....More

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    16 November 2015

    Education underpins accountability

    The drive for responsibility and accountability continues to gather pace. Christine Lagarde, Managing Director of the International Monetary Fund, has placed the global spotlight firmly on the role of the individual in a 5 November speech to the New York Fed.....More

    Words by Sally Scutt

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    22 September 2015

    Market failure and bad behaviour: where does the individual sit in all of this?

    People tend to assume a different persona within the workplace, in much the same way as many individuals adopt a completely different set of social standards when they get behind the wheel of a car.....More

    Words by James Thomas

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    15 July 2015

    Compliance Spain: new training needs

    Transparency International’s Global Graft Report reports that "corruption is everywhere in Spain". Their latest Corruption Perception Index has Spain sitting in lowly 37th spot. The Q4 political scandal season didn't even make the print deadline for the 2014 GGR. For example, the Health Minister was sacked in November 2014 after being named as a “profit-seeking participant” in connection with the Gürtel corruption case.....More

    Words by Murray Grainger

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    7 July 2015

    FCA Annual Report: Part 2

    As we know the FCA strategic objective is to make markets work well, and to achieve this they have the operational objectives of: - Protecting consumers - Protecting and enhancing the integrity of the financial systems - Promoting competition in the interests of consumers.....More

    Words by Rhodri Kettle

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    6 July 2015

    FCA Annual Report July 2015

    The FCA has issued a comprehensive review on its progress over the year including how it has achieved its objectives. This is a quick overview of how it assesses its performance in discharging its powers as a regulator. In ICT, we explain to our delegates that the regulator has four main powers:....More

    Words by Rhodri Kettle

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    25 June 2015

    Digitisation, Trust and Regulation

    I attended the BBA conference last week in London, it was a pretty long day but well worth the effort. There’s some exciting changes facing the banking sector over the next few years and many of these were discussed at the event. The three areas highlighted as being the key challenges for the sector include:....More

    Words by Jason Morris

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    12 June 2015

    Mansion House – implications for Compliance?

    Our financial services industry in Britain has, in recent years, been seen as part of the problem – now it must become part of the solution. That was the message from George Osborn MP, Chancellor of the Exchequer, in his 2015 Mansion House speech.....More

    Words by Dave Robson

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    20 May 2015

    Compliance: in demand

    It’s been said before, but for those in search of a career that is both challenging and rewarding there has never been a better time to work in compliance. The challenges come in the form of the abundance and complexity of current and forthcoming regulations, increasing scrutiny and greater enforcement activity; the rewards through the growing demand that this has created for skilled compliance professionals.....More

    Words by James Thomas

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    24 March 2015

    How much do APAC's regulators earn?

    Regulators’ salaries across Asia Pacific vary enormously:some supervisors earn fortunes and others hit the pay scale at the average to low end.....More

    Words by Helen O'Gorman

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    6 March 2015

    Continuing the drive towards professional standards

    The call for greater standards of professionalism within the financial sector has increased in volume in the years following the financial crisis. And no doubt that call will continue to get louder.....More

    Words by James Thomas

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    4 March 2015

    Compliance in Russia

    On 26 February I had the privilege of representing the ICA by attending and speaking at the 4th Annual ICA Conference in Moscow, organised by our Russian partners, International Compliance Services. This year the conference theme was ‘The Era of GRC: Governance, Risk and Compliance – Introducing the Unitary International Compliance Standard’.....More

    Words by Rhodri Kettle

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    27 February 2015

    RBS - What the annual results tell us

    As a neat follow up to Dave Robson’s blog earlier this week (view here), which provided a succinct analysis on two key areas of the HSBC annual report, risk and legal proceedings, here’s my take on the RBS 2014 results released yesterday. Bearing in mind you and I (the UK taxpayer) own almost four-fifths of RBS; it’s an opportune time to find out how they are performing, particularly around risk.....More

    Words by Jason Morris

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    9 February 2015

    Getting regulation right: a universal challenge

    Financial regulation has received so much mainstream attention in the recent past that it’s easy to forget that criticisms of “toothless regulators” or of the “glacial pace of regulatory change” are universal, and that the need for improved regulation and compliance expertise cuts across many sectors of the economy. The most recent example comes from the world of groceries retailing.....More

    Words by James Thomas

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    2 February 2015

    Going Through Changes – Insight from Davos

    Making sense of the threats posed to national security by transnational organised crime in the context of global responsibilities in the era of digitalisation and compliance....More

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    30 December 2014

    2015: an emphasis on conduct within an uncertain landscape

    As we enter 2015 financial institutions are confronted with an uncertain and shifting economic and political landscape. 2014 has seen slower than hoped for global economic expansion with stalling Chinese growth and the burgeoning Rouble crisis, while the current situation in Greece places the future of the Eurozone in the balance. Meanwhile, for UK financial institutions, political uncertainty abounds ahead of the next general election.....More

    Words by James Thomas

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    22 December 2014

    Compliance Carols

    This is the time of year to roll out the platitudes and look back over the past 12 months, at the high points and low points and this blog is no exception.....More

    Words by Helen O'Gorman

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    20 November 2014

    Enforcement: Change the Record

    It’s the same old song. Not The Four Tops classic (although you’ll probably be humming the tune for the rest of the day now) but my feelings about an article I recently read that has resulted in a depressingly familiar stance by an international organisation.....More

    Words by Jason Morris

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    27 October 2014

    Regulating culture

    In a recent speech at the New York Federal Reserve, Barclays Chairman Sir David Walker argued that: “Regulators cannot and should not try to regulate culture, which is a matter for the individual entity”.....More

    Words by James Thomas

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    8 September 2014

    News from across the pond – update on the requirement for regulatory risk management and board training

    The Office of the Comptroller of the Currency (OCC), the primary regulatory agency for national banks and Federal savings associations in the US, has provided final guidance on higher standards for risk management in larger banks.....More

    Words by Lee Byrne

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    3 July 2014

    BNP Paribas: this time it's personal

    I wrote recently about the emerging phenomenon of guilty pleas in US regulatory enforcement cases, and their apparent lack of substance following the Credit Suisse plea. In the Credit Suisse case no individuals were punished, no licenses revoked, no activities suspended, and the bank itself confirmed that the impact of the guilty plea on business had been "very limited", leaving many to wonder whether the bank's plea served any purpose other than to add some window dressing to an admittedly large fine.....More

    Words by James Thomas

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    26 June 2014

    Exciting developments afoot for the ICA Diploma in Compliance

    The regulatory environment, and consequently the role of compliance, has changed significantly in recent years. There has always been significant overlap between regulatory compliance and risk management - the compliance function’s fundamental purpose after all, is to manage the firm’s regulatory risk. And more recently we have seen how a firm’s governance, culture and organisational behaviour are core to how all risk is managed within the firm.....More

    Words by Jonathan Bowdler

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    6 May 2014

    Insight into the role of a Compliance Manager in Charity Banking

    Transforming lives is not normally in a compliance person’s job description, but here in CAF Bank, our work allows charities to flourish and enable their transformational work. I’ve always given to charity, so this role sits very well with my own ethos.....More

    Words by Grant Gooding

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    23 April 2014

    How to assess and improve your compliance management system

    In recent years there has been a great deal of focus on the individual competencies for individuals working in a compliance function (for instance see the National Occupational Standards of Competence produced by the UK Financial and Legal Skills Partnership in association with the ICA).....More

    Words by Bill Howarth

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    17 April 2014

    Regulation… the need for speed?

    High Frequency Trading (HFT) has been attracting considerable attention this month following the publication of “Flash Boys”, in which bond salesman turned financial writer Michael Lewis suggests that “US stock markets are now rigged by traders who go to astonishing lengths to gain a millisecond edge over their rivals”. With the book’s publication coming just days before the European Parliament voted to adopt HFT regulations under Mifid, the topic of HFT has been generating headlines on both sides of the pond.....More

    Words by James Thomas

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    7 April 2014

    APAC nations learning compliance lessons from each other

    When someone asked me to cover this region for the first time, I thought it was ambitious. The more I learned about Asia Pacific (APAC), the more that statement made sense. Financial services compliance in APAC is moving at both light speed and a snail's pace, depending on where you are standing.....More

    Words by Helen O'Gorman

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    11 March 2014

    Co-operative offers lessons for Board functioning and composition

    Evidence published last week by the Treasury Select Committee (TSC) in connection with its Project Verde inquiry highlights again both the importance of good corporate governance and the fact that, for some in the financial sector, achieving it remains a struggle.....More

    Words by James Thomas

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    17 February 2014

    Setting standards

    Last week Sir Richard Lambert published a consultation paper on the creation of a new professional standards body for the banking industry in the UK, designed to improve standards of conduct and the culture of banks.....More

    Words by Bill Howarth

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    28 January 2014

    Regulatory reform: may the forth be with you...

    Last week an application was made to grant the Forth Bridge “UNESCO world heritage site” status. Of course, legend has it that no sooner is the bridge painted than the job of repainting it has to begin again... which seems a fitting theme as world leaders have been gathering in Davos to discuss, among other things, the seemingly unending task of regulatory reform.....More

    Words by James Thomas

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    11 December 2013

    The big issue

    At this time of the year, there are only two questions that really matter: (i) what's the largest Christmas tree I can fit into my house without it constituting a health and safety issue? and (ii) what's the biggest turkey five adults and three children can safely consume in one sitting?....More

    Words by James Thomas

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    20 August 2013

    Social media, independent thought and organizational culture

    Have social media changed the way we think and work and has this had (positive or negative) consequences for organizational culture?....More

    Words by James Thomas

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    17 June 2013

    Compliance, parenting and playtime

    When I’m not editing inCOMPLIANCE (ICA's quarterly journal for members) I spend a fair amount of my spare time watching small children terrorize each other in playgrounds, not because I particularly enjoy doing so, but because as the father of a three-year-old it comes with the territory.....More

    Words by James Thomas

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    22 May 2013

    A Day in the Life of a Compliance Officer

    Anyone who works in financial services compliance will support me when I say that no two days are the same. The role is diverse, interesting and challenging and should easily tap into your skill set quickly and increase your knowledge day by day.....More

    Words by Morven Grierson

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    3 April 2013

    A tale of two cultures: Ethics and Compliance

    Am I alone in being fed up with hearing the words `culture`, `tone at the top` after each headline associated with a new banking or corporate scandal? Have corporate environments really lost their moral compass?....More

    Words by Mushtaq Dost

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    25 January 2013

    FCPA Guidance: Emerging Benchmarks for an Effective Anti-Corruption Compliance Program?

    Over recent years, we have all been witness to the US Department of Justice ("DOJ") and the Securities and Exchange Commission ("SEC") aggressively pursuing enforcement action against businesses and individuals under the Foreign Corrupt Practices Act ("FCPA").....More

    Words by Mushtaq Dost

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    3 January 2013

    What does 2013 hold for the big banks?

    2012 ended with a bang... but not in a good way. Coming just weeks after the conclusion of the Adoboli case, the UBS fine for LIBOR-rigging thrust the issue of culture in banking back onto the front pages.....More

    Words by James Thomas

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    16 October 2012

    Corporate governance: an ever expanding need for compliance to play its part

    Having worked in the financial services industry for over 13 years I can see that risk, compliance and internal audit play a fundamental part in good governance. However in many organisations these functions are split, do not interact and all cite their reasons for remaining independent.....More

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    15 August 2012

    How do I land my first compliance or AML role?

    I have been hearing this question quite a lot in recent times, partly I think because the media is suggesting this is one of the few areas in the finance industry that is still hiring and also because those outside the finance industry see it as a way in.....More

    Words by Phil Perchard

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    18 July 2012

    The changing regulatory environment - from the FSA to lofty 'Twin Peaks'

    With the impending change in UK regulation flooding towards us like the recent wet weather, the FSA are 'drip' feeding information to the industry as they continue along their metamorphic journey in a bid to help ease the transition we will all have to deal with in some form or another.....More

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    27 June 2012

    Mansion House speeches - a surprise, a little gloom and doom and some confusion

    As always there were many interesting points to come out of the UK Chancellor's annual Mansion House speech this year, along with some very bad jokes. But one announcement might well have a significant impact upon the future of regulation in the UK.....More

    Words by Jonathan Bowdler

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    11 June 2012

    Euro crisis, Asian woe?

    It seems not to matter anymore which source of media you use for your regular burst of fun filled global news, as so much of it carriers the same sentiment; the Eurozone is in crisis. The BBC news site, from the UK, has a whole section dedicated to this topic, much like a special section on the Olympics or the US Election. The Business Times website, the online version of the Singaporean daily, has also recently seen an increase in its coverage of European news, mostly centred on Greece, Spain and Germany.....More

    Words by Sam Gibbins

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    17 April 2012

    Compliance Allergy?

    An interesting new law has just come into place in Korea which mandates that most large listed companies will have to have a compliance officer. Licensed lawyers and experienced legal academics are eligible to apply for such posts but so too are those with either a master’s degree or higher in law with at least five years of experience in audit or compliance department of a listed company or an undergraduate degree in law and ten years of experience with a listed company. Their role would be to oversee the companies’ compliance obligations and to work proactively to head off potential legal issues before they escalate.....More

    Words by Jeremy Platts

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    11 April 2012

    Why education and training is so important for the financial services sector

    After 40 years teaching and training in universities and professional bodies, I was recently asked a question by a student about how, after so much time, it was possible to maintain keenness and enthusiasm about the subject matter of the class.....More

    Words by Bill Howarth

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    27 March 2012

    C-R-E-D-I-B-L-E - an acronym for compliance professionals

    As compliance professionals we all strive to save our businesses from the expense and reputational damage that comes with regulatory censure, but how do we get our businesses to understand and buy in to the value that we add to their bottom line?....More

    Words by Morven Grierson

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    6 March 2012

    Rules were made to be broken...

    ‘These rules don’t make sense’ ‘I don’t understand why we need these rules’ ‘We never used to have so many rules we had to follow’ ‘Do we really have to follow these?’ Sound familiar? I thought they might.....More

    Words by Sam Gibbins

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    5 March 2012

    Preparations for the UK Financial Conduct Authority are gathering pace

    With recent speeches to the British Bankers' Association by both Martin Wheatley and Clive Adamson, and the resignation of Margaret Cole, we are beginning to get a clearer picture of the approach and focus of that the Financial Conduct Authority will have when it assumes its powers in a year's time.....More

    Words by Jonathan Bowdler

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    22 February 2012

    PPI. High profile letters, big losses. Could this be the most undesirable three letter combo?

    The BBC Business website has today added a video on PPI compensation levels. Most of you will know what PPI stands for, at least in the first instance - Payment Protection Insurance. But the second instance you may be less familiar with - Polly Peck International. So what’s going on, I hear you ask?....More

    Words by Dave Robson

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    16 February 2012

    A compliance practitioner's work is never done...

    When a compliance professional receives that notification in their inbox from either the FSA, OFT, ICO or other regulatory/oversight body; what do they do?....More

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    9 February 2012

    Inside Job - Storyville

    Sitting in the Planner from the tail end of 2011 was ‘Inside Job – Storyville’. The synopsis said it was an Academy Award winning forensic analysis of the 2008 global financial crisis, tracing the emergence of a rogue culture within the finance industry which has corrupted politics, regulation, and academia. At a cost over $20 trillion, the crisis caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly caused global financial collapse. And Matt Damon does the voiceover.....More

    Words by Dave Robson

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    30 December 2011

    What is a 'Compliance Culture' and, more importantly, how do you achieve it?

    The term ‘Compliance Culture’ is used a great deal in discussing how to achieve effective regulatory compliance, particularly by compliance training organisations! However, if you do not define what you mean by this phrase then how are you going to take the appropriate steps to achieve it?....More

    Words by Jonathan Bowdler

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