Compliance Action Plan
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.
How can Pideeco help you ?
Pideeco can assist your business, providing an A-Z Compliance Action Plan, evaluating the existing plan that you are using. We can help you improve your efficiency in implementing the new rules and procedures, keeping you up to date with all the upcoming changes and providing the relevant IT tools for more automatisation.
Contact the Compliance Team !
Most Financial Institutions agree that we live in an ever more complex regula...
Good corporate governance is essential to support business growth. Good governance pr...
The integrity of your organisation is essential. The top management has to explain ho...
Have you ever heard the terms Adverse Media Screening or Negative News scraping and w...
For any professional, setting the emphasis on a continuous learning principle...
What is benchmark regulation?Following the Libor (London Inter-bank Offered Rate) sca...
Compliance, with the applicable legal framework, depends on the Action Plan t...
What are Compliance Risk Assessments ?A Compliance Risk Assessment (hereafter "CR...
What is the Ultimate Beneficiaries Owner - UBO Register ?The implementation of the us...
In its most general definition, the Risk-Based Approach (RBA) is a methodolog...
No matter the area, accidents are sometimes inevitable. A well crafted incident rep...
Business monitoring and reporting is a continuous exercise that can save time...
Policies and Procedures are the backbones of a company. We would define Pol...
We'll present you the technology to stop money laundering and terrorist financing
Central Compliance is the organization of all the compliance monitoring and controlling the professional activities of a given business or company thr...
Return to central compliance
In the past decade, a series of leaks from insider sources have shed light on the complex systems of money laundering, tax evasion, and fraud perpetrated by certain countries and wealthy individuals. The profound work carried out by international journalists in publish...
Read more Author What else ?