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Best practices in compliance training
Journal of Financial Compliance,
4
(3),
282-291
(2021)
Abstract
Compliance impacts almost every facet of an organisation. In order for an organisation’s compliance programme to be effective, however, it is imperative that the firm have a well-planned, comprehensive compliance-training regimen. Even the most comprehensive compliance programme is ineffective if staff have not been trained on the programme, do not understand the firm’s policies and procedures, and have not been educated on their own responsibilities in carrying out the programme. This paper discusses the importance of placing structure around a firm’s compliance training and explore themes that should be considered in evaluating such a training programme. Themes discussed include compliance-training programme content, audience, format, timing, implementation, documentation and programme effectiveness.
Keywords: Compliance; Employee Training; Staff Education; Job Responsibilities; Training Programme
The full article is available to subscribers to the journal.
Author's Biography
Lori Weston is Managing Director at Foreside and has assisted in the conceptualisation, creation and development of products and services that are primarily designed for Foreside’s investment adviser consulting clients. Prior to joining Foreside, she was a manager in corporate compliance and had consulted with advisory firms affiliated with the Lincoln Financial Group. She has more than 20 years of experience in the securities industry.
Jennifer Hoopes is Senior Managing Director and General Counsel and responsible for Foreside’s international business and product expansion to support Foreside’s non-US clients. In addition, she also has a role as General Counsel to Foreside. She regularly assists non-US asset managers in navigating the US marketplace and designs successful approaches for entering into the US market. She recently returned from a posting in London where she opened Foreside’s first European office. She also has particular expertise in broker-dealer regulatory compliance and the intersection of fund distribution and broker-dealer obligations.
