Peer Analysis: Understanding Today’s Compliance Risks and Solutions

There is no doubt that 2021 has been, and will continue to be, a year of intense activity for compliance teams. The COVID-19 pandemic created many issues that continue to impact firms. Meanwhile significant regulatory change programmes are gathering momentum and the ecosystem firms operate in is rapidly evolving. How are firms coping with these compliance risks? 

Based on the findings of polls taken across 700+ registrants from 35+ countries across Europe, Asia and North America, for ACA Group’s European Regulatory Horizon 2021 virtual conference held in March 2021, we’ve identified three of the knottiest issues facing compliance teams this year. These are Brexit-induced regulatory change, the implementation of the UK FCA’s Investment Firm Prudential Regime (IFPR), and the transition from Libor to alternative reference rates (ARRs). 

Download our infographic to see how compliance teams view these challenges: 

 

 

 

 

 

Potential solutions for strengthening the compliance ecosystem? 

Compliance teams are recognising the need to bring in the technology and skills to solve the challenges that they face. Improved surveillance tech would help firms monitor employees no matter where they are working or communicating. Cybersecurity and privacy expertise can transform a compliance programme. However, budget can be a major stumbling block. In our infographic, we outline: 

• the top five compliance areas that could benefit from better technology 

• the biggest hurdles to compliance technology adoption 

Next steps? 

The risks and challenges that firms are facing today are not going to disappear. Compliance teams should think strategically about how they are going to engage with these issues, including the technology and human resources required.  

Download our infographic for peer analysis on how other firms view these challenges. 

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Complimentary Whitepaper: Navigating Evolving Risks on the Regulatory Horizon: How can financial firms deal with regulatory change, COVID-19 fallout, and a rapidly mutating ecosystem of risks? To help you navigate these challenges, we've produced a whitepaper that includes insights, poll findings, peer analysis, and on demand webcasts from our recent Regulatory Horizon virtual conference, which saw more than 700 people from over 35 countries register. Download here  

How we help 

We have a wide range of services and solutions to help you with the regulatory challenges addressed in the infographic and whitepaper. Complete this form or call +44 (0) 20 7042 0500 to connect with us.  Our services include: 

• Brexit: Our solutions are designed to help global firms find solutions to continue to access the UK markets.  

• ESG: Our dedicated advisory practice helps firms of all sizes develop and monitor ESG programs to mitigate risk, make informed choices, grow profitably and sustainably, and combat greenwashing in the process.  

• Investment Firm Prudential Regime (IFPR): Our experienced prudential team are on hand with a wide range of solutions designed to help make your regulatory reporting obligations as simplified and seamless as possible.  

• LIBOR: We can assist you in devising your LIBOR transition plans, assessing and reviewing your firm’s reliance and usage of LIBOR, or performing a gap analysis review of your transition work to date.  

• GIPS Standards and Performance: We have the largest team in the world providing GIPS standards verification and related services to investment managers around the globe.  

• RegTech: Build a scalable and resilient compliance program with ComplianceAlpha®, our regulatory technology software platform supported by managed services.

• Transaction Reporting: Our specialists are on hand to help your firm identify failings in the completeness, accuracy, and timeliness of your trade and transaction reports.  Click here to book a free transaction reporting review to help identify problems in your regulatory reporting before the regulator does. 

• ACA Aponix®: for cybersecurity and technology risk programs, data privacy compliance services, vendor and M&A diligence services, portfolio company oversight, network testing, and advisory services for companies of all sizes. 

Contact us