Upping the ante: are your regulatory compliance systems and controls good enough?

With Risk.net reporting that:

"regulatory compliance is an increasing source of alarm for operational risk managers. It jumped to second place in this year’s survey of operational risks, up from tenth in the 2022 ranking – making it the fastest mover in the top 10"

it's clear that risk managers are worried about their systems and controls when it comes to compliance. Big fines in the US and the UK and a busy agenda of regulatory change are placing compliance controls under the microscope. In the UK ensuring financial firms have good systems and controls is high on the regulators' agendas.

Taking time to perform a review to check your frameworks and systems are fit-for-purpose is one way firms can take comfort that compliance controls have kept pace with the inevitable shifts in the business, as well as with regulatory change. Linklaters' in-depth knowledge of the regulations – and, crucially, how the regulators interpret them when things go wrong – is put to work assisting firms with such reviews. Are you betting on your controls being good enough?