News Details

20 Oct, 2011

Common Platform Firms - Role of Compliance Officer: SYSC 6.1.4

In order to enable the compliance function to discharge its responsibilities properly and independently, a common platform firm and a management company must ensure that the following conditions are satisfied: (1) the compliance function must have the necessary authority, resources, expertise and access to all relevant information; (2) a compliance officer must be appointed and must be responsible for the compliance function and for any reporting as to compliance required by ■ SYSC 4.3.2 R; (3) the relevant persons involved in the compliance functions must not be involved in the performance of services or activities they monitor; (4) the method of determining the remuneration of the relevant persons involved in the compliance function must not compromise their objectivity and must not be likely to do so.

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