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This report was produced as part of the knowledge exchange in the lead up the Compliance & Conduct Risk in Financial Services Forum.
SOME KEY FINDINGS
Establishing good conduct metrics is top challenge for 2016: Just under half of our respondents stated this as a key challenge for 2016. The second highest challenge is the changing role of the compliance officer and third is defining good conduct.
Top three areas of spend in 2016: Our participants said their organisation will spend the most time and money in 2016 on technology, training & development and compliance. This suggests that good conduct will be more embedded in the organisational structure, so that decision making is ingrained with the best customer intentions.
Not enough regulatory guidance: Over half our respondents feel there isn’t enough information from the regulators to put clear conduct risk metrics in place. A further 59% feel the regulators aren’t doing enough to define good conduct.