The Compliance Revolution :How Compliance Needs to Change to Survive

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The Compliance Revolution—Practical, Powerful Changes for Strategic Organizational Value

Compliance is absolutely critical in creating a robust and resilient organization, one which is trusted by clients and contributes to market stability. Firms must approach compliance differently in order to meet these standards. Written for compliance staff, regulatory organizations, and senior management, The Compliance Revolution explains how key changes in compliance affect underlying principles, practices, roles, expectations and values. This valuable resource for global practitioners assists in navigating compliance requirements and implementing solid protection for a sound organization.

Author David Jackman presents a coherent model for understanding and applying key developments in regulation and compliance. While the model is based on financial services, it can be applied to any sector and industry. It identifies five critical compliance components: Start-up, crises, expansion, sustainability, and outcomes-led focus.

You will also discover:

  • Why compliance is worth spending money on
  • What your firm could and should be doing differently
  • The importance of ethics in compliance and regulatory challenges
  • How to create a pro-compliance culture
  • Ten principles of good governance and why good governance matters
  • How to employ judgment-based compliance
  • The features and benefits of corporate maturity

The Compliance Revolution is a crucial asset for all those with stakes in compliance—board members, compliance managers, and employees. David Jackman outlines key compliance challenges and reveals the practical tools and techniques required for successful practice. The insight, examples, and strategies in this comprehensive guidebook will help you and your organization achieve increasingly efficient, substantially more effective compliance procedures and practices.

Chapter

Chapter 2 General Model of Regulatory and Compliance Development

Introduction to Development Models

General Model of Regulatory and Compliance Development

International Comparisons

Example of the UK

Using Regulatory Toolkits

Conclusion

Endnote

Chapter 3 Is Compliance Worth the Money?

An Unfortunate Unconformity

The 2008 Global Financial Crisis

Legacy of Failure

Post-2008

Increasing Compliance Spend

A Line in the Sand

Future Challenges

Conclusion

Endnotes

Part 2 Practice

What to Do Differently

Chapter 4 Ethics

Definitions

Ethics in Regulation and Compliance

An Ethical Framework for Financial Services

Ethics in Business

How Should a Compliance Practitioner Approach Ethics?

Ethics at Work versus Ethics at Home

Steps Towards Developing Ethics

Main Tools for Identifying and Applying Corporate Ethics

Three Critical Steps in Establishing Ethics

Ethics in Regulation

Principles and Ethics

Advantages and Disadvantages of Principles

Principles-Based Regulation

Conclusion

Endnotes

Chapter 5 Culture

Pro-Compliance Culture

What Is Culture?

What Is a Values-Led Mind-Set?

Changing and Embedding Culture

How to Change Culture

Creating Crucibles in Regulation-Examples

Regulatory Methodologies

UK Indicators

Fair Dealing in Singapore

Measuring Culture

Conclusion

Endnotes

Chapter 6 Good Governance

Why Does Governance Matter?

What Is Corporate Governance?

A Model of Good Governance

Ten Principles of Good Governance

Conclusion

Review: The State of Corporate Governance

Endnotes

Chapter 7 Outcomes

Why Is This Step Up So Significant?

What Is Outcome?

Why Is Outcome So Important?

Development Matrix

Outcomes in Singapore Regulation

Outcomes and Enforcement

Conclusion

Endnotes

Part 3 Purpose

Chapter 8 Community

Importance of Community

Role of Companies

Social Usefulness of Banks

Role of Compliance

Definition of Community

Community Principles

Sustainable Communities Principles-What Do They Mean?

Development Matrix

Corporate Social Responsibility

New Reporting Standards

Behavioural Economics

Vulnerable Consumers

Conclusion

Endnotes

Chapter 9 Corporate Faith

What Is Corporate Faith?

Managing Corporate Faith

The Value of Corporate Faith

Dimensions of Corporate Faith

How Faith Develops

Corporate Faith into Practice

Professionalism

Judgment-Based Compliance

Conclusion

Chapter 10 Corporate Maturity

What Is Maturity?

Maturity and a Direction of Travel

Unconditionality

The Underlying Process

Corporate Maturity Framework

Cavitation

Connecting the Five Stages of Development with the Five Levels of Maturity

Conclusion

Index

EULA

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