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96c1f23a-232e-4e0e-b536-62841d00eb58_Cost_of_Compliance_2020_Survey_Report_-_Key_Highlights_Infographic.pdf

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📊 Size: 1.72 MB

📄 Pages: 1 page

⬇️ Downloads: 75

Summary

Firms reporting outsourcing some or all of its compliance functionality increased to 34% in 2020, with reasons including costs and lack of in-house compliance skills. 73% of firms believe regulatory focus on culture and/or conduct risk will increase personal liability of senior managers. The top 3 skills of an ideal compliance officer in 2020 are subject matter expertise, communication skills, and integrity. Compliance teams are expected to change, with 43% expecting the team to grow, and 34% expecting the turnover of senior compliance staff to increase. Regulatory change is the top compliance challenge for 2020, and creating a unified compliance culture is the single biggest culture or conduct risk facing firms. The top 3 compliance challenges in 2020 are keeping up with regulatory change, budget and resource allocation, and data protection.

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Description

Firms reporting outsourcing some or all of its compliance functionality increased to 34% in 2020, with reasons including costs and lack of in-house compliance...

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File Format: PDF
File Size: 1.72 MB
Pages: 1
Language: EN
Total Downloads: 75
Last Updated: 6 days ago

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This PDF document about Thomson Reuters provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Thomson Reuters.