Title Details

Annie Mills (London, UK) has worked in the compliance industry for nearly 10 years, working in many areas of investment management and banking compliance. Currently she is Senior Compliance Officer, Global Banking and Advisory at Standard Bank, where she has held previous positions as Head of International Compliance Monitoring, and as Compliance Officer. During her time at Standard Bank, her compliance team won the 2005 Compliance Register Award for Best UK Compliance Department. Previous to Standard Bank, Mills worked for Grindlays Private Bank, Guardian Investment Holdings, and First Marathon Securities. She presently sits on the Examining Panel for the Securities and Investment Institute's Regulation and Compliance Diploma.

Contents Preface (or How Not to be an Execution Officer) Acknowledgements List of Abbreviations PART I: COMMENTARYAND CONTEXT 1 The UK Regulatory Environment 1.1 Different regulatory regimes in the UK 1.2 The FSMA regime for investment business 1.3 The UK's anti-money-laundering regime 1.4 The UK's takeover regime 2 The Compliance Function 2.1 Compliance as a concept 2.2 The Compliance Officer 2.3 Compliance: good and bad 2.4 The argument for Compliance  2.5 Compliance as a profession 3 The Compliance Contract 3.1 The Compliance Mission Statement 3.2 The Compliance Charter 4 Mapping Your Compliance Universe 5 Mapping Your Corporate Universe 5.1 Operating entities 5.2 Business units 5.3 External Service Providers 6 Regulators and Other Industry Bodies 6.1 Exchanges 6.2 Clearing houses 7 The Legislative Environment and Rules Mapping 7.1 Rules mapping 7.2 Detailed rules mapping for your own firm 7.3 Mapping requirement for an overseas jurisdiction 8 Financial Products, Services and Documentation 8.1 Products and services 8.2 Understanding products and services in context 8.3 Documentation 9 Compliance Outside the Compliance Department 9.1 The Front office 9.2 The Back office and other support functions 10 Key Compliance Department Activities 10.1 Routine activities 10.2 Off Piste Compliance: advisory work 10.3 Compliance conundrums 11 Comply or Die - When Things go Wrong 11.1 Someone's watching you 11.2 The FSA has 'hot buttons' 11.3 What the FSA can do to find out more 11.4 What to do if you are being investigated or are subject to disciplinary action 11.5 Consequences of rule breaches and other regulatory misdemeanours APPENDICES A Routine Compliance Activities B Routine Anti-Money-Laundering Activities C Compliance in the Front Office D Compliance for Senior Management, the Back Office and Other Support Departments E Compliance Conundrums - What Would You Do? PART II: INFORMATIVE EXAMPLES Box 1: Acting on Principle Box 2: ARROW Box 3: Basel II and CRD Box 4: Extradition Box 5: Financial Services Action Plan Box 6: Going Global? Box 7: Industry Guidance Box 8: L&G v. the FSA - Who are the real winners and losers? Box 9: Markets in Financial Instruments Directive