The Importance of the Compliance Function

The Importance of the Compliance Function

In this video, Peter outlines the 10 principles for the compliance function that were set up for banks by the Basel Committee in 2005. After outlining and analyzing these principles, Peter discusses how and why banks failed to follow them closely enough in the lead up to the Global Financial Crisis - and paid a hefty price for it.
Overview

The Compliance Function works to ensure that banks operate with integrity and within rules and regulations and is key to success.

Key learning objectives:

  • What is Compliance?

  • What are the main principles for good compliance?

  • How did compliance fail in the Global Financial Crisis? What were the costs?

  • How has compliance changed?

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