EFFECTIVE COMPLIANCE V REGULATORY GESTATION

After first examining what compliance is, the paper goes on to look at the demands of regulators on compliance offices and, in particular, the different advice and requirements of SROs. The author considers the lack of consistency shown by regulators over training and competence, money market dealers and investigative procedures, as well as the conflict between fiduciary duties and regulatory rides, before concluding that SROs need to co‐ordinate their approaches if the problems caused by regulatory disharmony are to be overcome.