ACA Identifies 12 Most Common Compliance Failings for U.K. Firms and How to Avoid Them (Part Two of Two)

In a recent webinar, ACA Compliance Group (ACA) shared its insights on several recurring compliance issues found during its reviews of U.K. firms; the U.K. Financial Conduct Authority’s standards and expectations in these compliance areas; and recommendations for addressing the issues. The panel featured ACA partner Philip Naughton and ACA directors Charlotte Longman and Michael Chambers. This second article in a two-part series explores the key points from the program pertaining to the second set of six compliance failings: regulatory reporting, financial planning, the Internal Capital Adequacy Assessment Process, the Investment Firm Review, market abuse and transaction reporting. The first article reviewed the first six compliance failings: governance, compliance arrangements, general compliance, personnel, training and financial crime arrangements. For more from ACA, see “Developing a 2018 Compliance Budget: How Investment Advisers Can Make the Most of Limited Resources” (Dec. 21, 2017); and “Challenges and Solutions in Managing Global Compliance Programs” (Oct. 5, 2017).

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