‘Advisers being squeezed by regulatory pressures’

Ben Goh said it was important to recognise the contribution of compliance professionals in the financial services industry at a time of heightened regulation and awareness of financial crime.

Mr Goh said: “Compliance is becoming increasingly important, particularly within the IFA community. A lot of IFA firms do not have full-time compliance officers, and are being squeezed by increased regulatory pressure brought on by RDR.

“Our organisation can offer advisers support and training on a range of compliance issues with practical and up-to-date information.

Article continues after advert

His comments came as the global interest group for compliance professionals prepares to stage its 10th anniversary awards ceremony in London on November 28.

Mr Goh said the ceremony will include a special Compliance Got Talent section when three performers from the industry will battle it out on stage for the audience’s votes. The winner will receive £3000 to be donated to a good cause of their choice.

He added: “This is a brilliant opportunity for compliance professionals to show they are socially useful and care about the less fortunate in our society.”

The register will also hold two training events. On 11 October it will stage a session on financial crime, with updates on the latest fraud trends and scams.

On 15 November it will run a training course on understanding the FCA’s conduct of business sourcebook.

The register has more than 5000 members worldwide with more than 2000 based in the UK.

For more information visit

HSBC seeks to bolster compliance teams
HSBC is recruiting compliance professionals for its financial crime compliance and regulatory compliance departments following a recent “major investment”, according to the bank. It aims to create “an industry-leading compliance community”.

Adviser View

Kevin Ronaldson, chief executive of national wealth manager Bellpenny, said: “We are in complete agreement with the principles of RDR. Our compliance procedures ensure we demonstrate these principles of transparency to the client and adhere to all the regulations pertinent to the post-RDR advice process.”