Last month Arctick GRC took to the road to attend this year’s PIMFA Compliance Conference on 18th June and the FLA Regulation Conference on the 19th June. Both events included a packed agenda with leading industry experts discussing the key issues facing compliance professionals in the investment management and financial advice world.
Since the introduction of the FCA in 2014, it’s clear that regulation has no immediate signs of slowing down and the uncertainty of Brexit on the horizon, those responsible for understanding regulatory matters in financial services business has much to keep them occupied over the next 12-18 months.
A clear message which was echoed across both events was that adhering to regulation is not just a paper-based minefield but also a process challenge with any organisation. Using traditional methods to track, monitor and implement the application of these requirements is unsustainable without a purpose-built solution to direct and co-ordinate the required tasks.
As the FCA is an evidence-based regulator, they are looking more and more at organisations to provide hard examples of known risks across the business, who is responsible for them at the SMF level and the corresponding proof that they have been actively managed. They are also expecting to see the actions that have been taken over time to mitigate them.
Arctick is a comprehensive GRC software solution aligned to SM&CR as well as SYSC 6&7. Contact us for a demo and see how we can streamline and improve your compliance processes.