In the same week Jersey’s JFSC introduce financial penalties powers it has been reported that the current era of record regulatory fines has been branded “the new normal” as the level of penalties dished out by the FCA hits a total of £1.5bn. The figures have been published as part of the latest Global Enforcement […]

The following are my Top Tips for maintaining robust compliance framework to keep in line with regulatory expectations. Make MI Your Right-Hand Man Management Information (MI) has a significant role to play in a successful firm, from measuring performance against key performance indicators (KPIs) to monitoring ongoing customer trends. To monitor these areas effectively, make […]

On May 27, top FIFA officials and sports marketing executives were arrested in a rampant corruption scandal. According to a 164-page indictment, FIFA officials received tens of millions of dollars in bribe payments in connection with sponsorships, marketing and media rights for soccer tournaments. These bribes were funnelled through U.S., Latin American and European financial […]

Compliance challenge and the ITrackRisk solution – Compliance executive need to e­ffectively manage multiple initiatives—and information flows. The right compliance tools supported by technology will arm you with real-time and actionable insight whenever needed, in one location, so that you can better address your compliance risks, defend your company and meet the expectations of your […]

The compliance role in any firm is critical and you need to ensure you have the correct person. As a business if you’re hiring a compliance officer or just assessing your current one, you need to ask the right questions. The following questions have been designed for those who need guidance in evaluating the knowledge, […]

The financial services industry has faced recurring issues with quality and consistency, from concerns around the information taken when on-boarding a client through to the quality of advice through to inconsistent handling of complaints. This, in turn, has resulted in increasing levels of regulatory scrutiny and a higher risk of reputational damage. As a consequence […]

I have just returned today from a really interesting Jersey Compliance Officer Association presentation (12 may 2015) that had Rear Admiral Chris Parry CBE speaking on global risks. More specifically, his talk provided a quick (1 hour) run through his work on forecasting of future geopolitical developments, emerging trends and the associated business risks and […]

I have just returned (Tuesday 4th March) from the Jersey Finance event titled – KYC/AML digital innovation – efficiency, risk reduction and client satisfaction?  Although very interesting I was disappointed that there was not a recognition that some of the technology being discussed is already in use throughout the world in many AML supervised firms […]