MyComplianceOffice Blog

The FCA have been highlighting that firms are failing to implement various recommendations in their PAD policies and controls to meet regulatory requirements and avoid market abuse. In order to prevent personal account dealing, firms should ensure preparation for the FCA’s requirements.

Last year, two executives of Herbalife Ltd. were charged after spending $25 million on entertainment and gifts for Chinese officials in 10 years period, to facilitate the company operations in some regions in China.

In this period of uncertainty and pressure on firms, regulators around the world have been quickly changing their strategies to support firms, so they all can manage the situation at best.

You might have asked yourself “what governance expectations do regulators have?”. Well, regulators seek good governance and deem it critical that businesses deliver effective management to support and strengthen compliance. Regulators understand that firms affected by the COVID-19 crisis must adapt and review their actual governance, as necessary. 

According to a recent survey by Compliance Week, some compliance teams are finding this time very challenging and vigilance is required now more than ever by the team. During a crisis, employees tend to think that the rules and policies do not apply, increasing the need for monitoring and checks from the compliance staff.