The Emerging Compliance Industry

1. The Emerging Compliance Industry John C. Bourbon Chairman United Kingdom Compliance Institute

2. Where did “Compliance” come from? Commenced in the late 80’s Cycle of small dedicated teams The 90’s saw the growth of huge dedicated compliance and risk management functions The 00’s introduced the concept of Compliance throughout the business with small dedicated monitoring teams. The 10’s see us with the prospect of much enhanced focus on regulation and compliance

3. How is compliance embedded in the financial services industry? Started as “business prevention” As importance grew in the minds of regulators, so compliance made the transition to good business practice and became accepted by the business The “Compliance Culture” establishes in the business Rewards within the industry become linked to good compliance Regulators develop the fining regime Establishment of “Treating Customers Fairly”

4. Whose responsibility is Compliance? Compliance Officer Salesforce and Marketeers Back Office administrators Management Senior Management Executive Directors Non Executive Directors

5. John C Bourbon MSc FCIB FCSI FColJohn Bourbon is licensed by the Isle of Man Financial Supervision Commission as a Trust and Corporate Services Provider Contacts: www.complianceinstitute.co.uk www.johnbourbonconsulting.com E-mail johncb@manx.net +44 7624 233603 / +44 7624 433603