Season 3, Episode 4: Preparing for increased personal liability

In the fourth episode of season 3 of the Compliance Clarified podcast Susannah Hammond is joined by Rachel Wolcott and Todd Ehret to take a look at the developing issues and what good is beginning to look like for the evolving management of personal accountability. Not only are accountability regimes proliferating around the world but also firms and their compliance officers need to also consider an increasingly wide range of non-financial misconduct when assessing whether or not individuals are, and remain, fit and proper. And individuals need to be considered ‘fit and proper’ in order to be a licensed or registered employee and thus authorised to undertake financial services.

As discussed in the podcast here are some additional resources:

New York City Bar Association proposals for compliance officer liability https://www.nycbar.org/member-and-career-services/committees/reports-listing/reports/detail/framework-for-chief-compliance-officer-liability

Survey of graduates around the world https://www.cfainstitute.org/-/media/documents/survey/Graduate-Outlook-Survey-2021.ashx

UK senior managers and certification regime stocktake https://www.fca.org.uk/publications/multi-firm-reviews/senior-managers-and-certification-regime-banking-stocktake-report

Firms' recruitment procedures require change to meet regulators' diversity and suitability requirements https://www.jdsupra.com/legalnews/firms-recruitment-procedures-require-8560749/

Further information on Thomson Reuters Regulatory Intelligence can be found at: https://legal.thomsonreuters.com/en/products/regulatory-intelligence?elqTrackId=73370082102a4669b4d34524158b501c&elqaid=3945&elqat=2