i-law

Compliance Monitor

Balancing acts

Human resources specialists struggle to comply with the provisions of an ever growing range of employment law obligations while their colleagues in financial services compliance have to contend with the FSA’s rules. Both departments need to understand the limitations that the other faces if the firm is to achieve overall compliance in both areas. Dealing with recruitment, disciplinary issues and provision of references illustrate this uneasy balancing act says Anna Fletcher, Associate, Wragge & Co.

The introduction of the approved persons regime has led many financial services organisations to review their internal HR and compliance procedures, in particular to ensure compliance with both FSA rules and the vast array of legislation on employment protection rights. Specific tensions exist is seeking to balance these requirements.

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