Tuning in to the Principles: compliance oversight and monitoring

The move to More Principles-Based Regulation calls for a realignment of compliance oversight and monitoring functions. Lucy Williams , Director of Compliance, Norwich Union Life explains how one institution has modified its approach.

Principles-Based Regulation and the changing regulatory environment

Principles-based regulation is not new, it has existed since markets were first established in the City of London. In 1923 the Stock Exchange hard-coded the principle of “good behaviour” into its culture by inscribing the words ‘Dictum Meum Pactum’ into its coat of arms - the motto is still there today.