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June 2022 Newsletter

Welcome to the summer edition of our quarterly newsletter.

As always, we are eager to share our achievements and developments that have made the last three months an exciting time to be part of the fast-growing RegTech landscape.

We kicked this quarter off with our biannual Client User Group, held in Mayfair in April. It was wonderful to be able to share (in person) our plans for the ongoing development of My Compliance Centre with our clients and most importantly to get their feedback on our ambitious timetable of future developments.

Consumer duty is the next big thing in financial services regulation. In this article, we look at how Compliance Management Systems will assist regulated firms to fulfil their obligations under the forthcoming Consumer Duty rules.

One of the big industry questions for me personally and a key part of My Compliance Centre’s mission, is how to reduce the cost of compliance. Part of the challenge of answering that question is that it often seems that no one really knows what compliance costs.  In this article, ‘The cost of compliance’, I attempt to answer exactly that and go on to consider is it really worth the cost? 

Our regular features include:
  • Regulator Watch highlights a few key themes that I have picked up on while tracking regulator activity over this last quarter.
  • Quote of the quarter, Nikhil Rathi, CEO of the FCA, and a really insightful restatement of what companies are for.
  • We continue to enhance our system, and our System Update is here with new functionality and module version updates.
  • Our SMCR software is just one module of a much wider automated compliance management system. For your viewing, we have included a demonstrative SMCR video spotlighting how our SMCR module will save you countless hours and stress in tracking, managing, and reporting your firm’s SMCR compliance.

It’s always a pleasure to reflect on how far we have come over the last 18 months. However, we pause only for a moment, as we look forward to the ongoing challenge of reshaping the future of compliance.

Wishing you all a lovely summer and with thanks to our clients and partners for your continued support.

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