Compliance Monitor

It's been said that looking back makes the view looking forward even clearer. As the Association of Professional Compliance Consultants passes a milestone, chair Julie Ampadu considers lessons learned so far and the path ahead.

The High Court has endorsed the Ombudsman's disdain for a 'tick box' approach to client classification and underscored that firms must conduct an 'adequate assessment' of investment experience, reports Denis O'Connor.

Recent guidance on adaptive practices that respond to climate-related risks and opportunities can help firms stay ahead of current and expected disruptions, as well as create value through innovation and meet new needs, write Simon Lovegrove and Haney Saadah.

A cluster of judicial reviews have clarified the scope and extent of recourse to the courts against Ombudsman decisions, along with other key compliance concerns. Adam Samuel unpacks the judgments.

On 4 July 2024, the European Banking Authority issued its final report on guidelines on the so-called travel rule - that is, information requirements relating to transfers of funds and certain cryptoasset transfers, designed to prevent money laundering and terrorist financing. Charlotte Hill and Shaanil Senarath-Dassanayake explore the guidelines and main takeaways.

The Bank of England's decision to drop the bonus cap has placed the issue of how to reward star players back on the financial services agenda. But how should compliance officers approach this sensitive subject and what are the reputational risks? Neasa MacErlean examines these and other difficult questions about banker bonuses.