We make a living by what we get, We make a lifeby what we give.

Winston Churchill









Articles and opinion

Compliance challenges for wealth management – impact and implications of the Senior Managers Regime

The annual summit will this year brought together industry experts to discuss key developments and offer their insights into pressing compliance issues. The summit focussed on the changes to expect as the country heads towards Brexit, including driving new technology, and the challenges for wealth management firms when developing a digital strategy.

Rosalyn chaired the panel ‘Compliance challenges for wealth management – impact and implications of the Senior Managers Regime’. Following the recent scandals of the Panama Papers and the Bahamas leaks throwing wealth management practices into the regulatory spotlight, the panel discussed how to navigate the challenges in today’s regulatory landscape.

Topics included:

  • the impact of Brexit;
  • record keeping; document management and data quality;
  • cost of compliance;
  • value for money;
  • monitoring front office behaviours;
  • onboarding;
  • know your customer; and
  • market abuse – trading and market manipulation.