Compliance modernization is no longer optional

How evolved is your approach?

More than just a cost of doing business. To Chief Compliance Officers, it’s a refrain they’ve heard for years: a challenge, an ambition, and perhaps a sliver of veiled insult. Few dispute that the resources an organization devotes to keeping out of trouble have the potential to contribute far more than they traditionally have.

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Key takeaways: 2015 National Compliance Outreach Program for Broker-Dealers

2015 National Compliance Outreach Program for Broker-Dealers

Posted by Marjorie Forestal, Mike Jamroz and Vishal Kumar on August 31, 2015.

On July 14, 2015, the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) hosted the National Compliance Outreach Program in Washington, D.C., to help compliance, audit, and risk officers of broker-dealers better understand how they can improve their firms’ compliance with laws and regulations. Speakers and panelists included SEC and FINRA leaders and compliance executives from leading firms. Below are some of the key takeaways:

Accountability of firm senior executives and compliance officers
Panelists emphasized that C-level executives and the board should commit to their firm’s compliance frameworks, including creation of procedures for dealing with conflicts of interest and proper escalation to senior management to help deter potential actions for violations of policy, laws, or regulations. The panelists noted that while the SEC does not intend to target compliance professionals, there will be an increased focus on the duties of compliance professionals and Chief Compliance Officers (CCOs).

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Compliance on the brink: Harnessing Big data to the risk challenge

Harnessing Big data to the risk challenge

Posted by Rob Biskup and Maureen Mohlenkamp on August 17, 2015.

At the annual Compliance Week conference earlier this year, Deloitte’s status as a sponsor and presenter put it in the center of some compelling conversations. Across the discipline, there’s a growing consensus that Chief Compliance Officers (CCOs) are moving out from behind their general counsels and taking their own seats at the big table.

The question now is what they’ll do there. Part of the challenge is to help connect compliance officers with internal control and technology solutions. But the corresponding challenge is to make strategic sense of what those solutions can deliver and prioritize accordingly. Another challenge is for CCOs to engage broadly across the enterprise on these solutions, so compliance can make the same robust use of big data that leaders in other areas have done.

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Compliance Week 2015

Celebrating 10 years

May 18-20 2015 Mayflower hotel Washington DC

Harnessing Big data to the risk challenge

Posted by Nicole Sandford and Donna Epps on August 17, 2015.

For the third year in a row, Deloitte & Touche LLP and Compliance Week collaborated to produce the 2015 Compliance Trends Report, an annual benchmarking survey report that answers, “How do compliance functions efficiently and effectively manage the risks associated with the increasing demands of numerous stakeholders and position themselves for success in the future?”

We had the pleasure of presenting the survey’s findings during the annual Compliance Week conference in Washington D.C. this past May. The findings, summarized in our presentation below, shows some clear trends:

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