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Compliance Action Plan


compliance action plan step by step guide
Compliance, with the applicable legal framework, depends on the Action Plan that the entity has designated and applied. A Compliance Action Plan (CAP) should be clear, systematic and detailed so as to assist the business in the best possible way.


The Action plan of each entity can be different depending on its specificities (i.e. type of business, legal form of the entity, number of employees) and the particular legal framework of each jurisdiction.
However, some fundamentals should be included in every CAP.

10 Tips to improve your business compliance action plan !


  • Engage a Head of Compliance Officer with the relevant experience and the integrity necessary for such a position;
  • Draft a Code of Conduct for the staff that will be clear for everyone and make sure that all members of the staff are aware of it;
  • Review the policies and procedures of the entity at least once per year and reassure good Corporate Governance of the entity in general;
  • Monitor the mapping of the used documents and data, based on the new GDPR legislation;
  • Monitor the outsourced code of conduct reports;
  • Monitor the publication of compliance and audit charters.
  • Complete a Risk Assessment once per year;
  • Training of the staff on their awareness of specific notions and fundamentals of the financial sector, as MiFID II requires;
  • Regulatory Watch, meaning following all the new legislation and implementing them in the business, when it is necessary;
  • Use technology to automate compliance procedures and eliminate the employee's time on collection of data and repetitive checks.

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