Regulator Reveals Bank Compliance Officers' Top Challenges
Law360, London (November 23, 2017, 4:24 PM GMT) -- The pace, volume and sheer complexity of regulatory change is the biggest challenge faced by wholesale banks, a survey of compliance departments by the U.K. finance watchdog revealed on Thursday.
Compliance officers told the Financial Conduct Authority that cybercrime, money laundering and insider trading are among the biggest challenges they face. (AP)
Compliance officers at 22 banks told the Financial Conduct Authority that they are also battling cybercrime, money laundering and insider trading.
Nearly every firm pointed to new regulations as their main concern. The task of adequately staffing the compliance office itself was the second most significant challenge for financial services...
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