Turning the compliance straitjacket into a bulletproof vest

In the last few years, several banks have received some of the largest fines ever issued by regulators as a result of manipulating systemically important interest benchmarks (SIIB) – think LIBOR and EURIBOR – and the Payment Protection Insurance (PPI) mis-selling scandal has cost a number of banks more than £18bn. People across industries are definitely aware of, and thinking about, regulation and compliance.