ABSTRACT
This chapter focuses on the financial services regulatory environment, building on the topics covered in Chapter 1. We look at the constituent elements of this environment, and consider what and who the main influences and influencers are and their impact on the different stakeholders involved. We consider how the regulatory environment is shaped by this, exploring a practical example. We also examine the specific role of the Compliance function – a key influence in its own right – understanding its origins and highlighting key periods in its development. In doing so, we chart its expansion and show how increasing complexity and regulatory requirements introduced and expanded in response to this have given rise to a new profession.
