MyComplianceOffice Blog

The Halloween Brexit deadline may have captured the media’s attention as it concerns the U.K. economy for now, but solo-regulated firms should also be concerned with another frightening date. That’s according to Juan Diego Martin, COO of Fonetic, in an opinion piece he authored for the publication Markets Media. Martin says firms are likely not giving the Dec. 9th Senior Managers and Certification Regime (SMCR) implementation deadline the attention it deserves.  

Professional football (or Soccer if you’re an American) club Manchester United plc has embarked on an impressive international expansion of its fan base the past several decades. The club currently claims 1.1 billion followers worldwide and is valued at $3.9 billion USD with a revenue of $770 million last year.  

Many companies have conducted employee surveys to determine the ethical health of their organizations. They ask employees, for instance, has a culture of compliance been successfully integrated that starts with senior leadership setting the tone from the top? Are processes, systems and people in place to ensure compliance and prove it to regulators?  

Attorney Andrew Hayward and award-winning writer Tony Osborn have authored a new book, “The Business Guide to Effective Compliance and Ethics: Why Compliance isn't Working - and How to Fix it.” In the book, the pair make note of increasing regulation and enforcement actions; growing ethical demands from business stakeholders as well as the public; and more stringent compliance policies and procedures within organizations.  

When it comes to implementing the new Senior Managers and Certification Regime (SMCR), there are key lessons solo-regulated companies can learn from banks and insurers who’ve already done so. That’s according to Lorraine Mouat, associate director at TCC, who highlighted the top five mistakes companies might make in implementing SMCR in a recent Financial Times Adviser  article.