(Opalesque) With great power comes great responsibility. Yes, but in the era of SMCR, heads of compliance have found out that even a medium amount of power now comes with an almost unpalatable amount of personal accountability – and legal jeopardy. In many cases, this has already resulted in an unseemly game of buck-passing, as senior managers attempt to work out who is legitimately responsible for what – and what can be distributed elsewhere. And for the 10 percent of -currently approved persons who are not based in the UK, it has been tempting to regard this as just another London-based spectator sport.
International compliance – a new era for SMCR
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