Compliance 2019: Adjusting to Change

Each year, Compeer interviews senior compliance executives from across UK Wealth Management and takes their views on the most important regulatory themes of the industry.

During this year’s event, Compeer will present our research examining the impact that new directives, such as GDPR and MiFID II, have had on the industry. What are the common challenges faced by the industry under the new regime? Which approaches to change provided positive outcomes? What were the benefits to the end client? Have there been any unintended consequences of the regulations?

We will also look at how the wealth management sector is preparing for the implementation of the Senior Managers and Certification Regime (SM&CR), and whether the lessons of recent regulatory change have been learnt.




Event Information

08:15 – 09:00    Registration and Breakfast

09:00 – 09:05    Introduction: Master of Ceremonies, Dr Tim May

09:05 – 09:35    Ian Cornwall, PIMFA – Regulation – Current state of play and outlook for 2019

09:35 – 09:55    Innes Miller, – Gender pay gap reporting in wealth management

09:55 – 10:35    Stephen Hanks, FCA

10:35 – 11:05     Networking Break

11:05 – 11:25     James Brown, Compeer – Results from wealth management interviews

11:25 – 11:45     Carl Redfern, Redland Business Solutions

11:45 – 12:05    Rosalyn Breedy, Wedlake Bell – Compliance is Doing Things Right, Leadership is Doing the Right Things ….with apologies to Peter Drucker

12:05 – 12:35     Wealth Management Panel Session

Phil Thomas (Quilter Cheviot), Paul Martin (LGT Vestra), Anna O’Shaughnessy (Rothschild), Hugo Watson Brown (Smith & Williamson)

12:35 – 12:40     Summary: Master of Ceremonies, Dr Tim May

12:40 – 13:00     Networking and Canapés

Ian Cornwall, PIMFA

Ian has almost 30 years’ experience as a risk and compliance professional.   He started his regulatory career in 1986 with the Surveillance Division of the London Stock Exchange which evolved into The Securities Association, which regulated stockbrokers, where he was a senior manager. He spent many years as a main board members and Compliance Director of one of the largest private client investment managers and stockbrokers in the UK.

Ian is Director of Regulation at PIMFA. His role entails constant contact with the UK regulator, the FCA at all levels and other organisations such as HM Treasury, Financial Ombudsman Service and the Financial Services Compensation Scheme. He is involved all areas of policy development and provides regulatory support to PIMFA’s member firms.

Ian is a Chartered Accountant and Chartered Wealth Manager. He is a member of the examination panel for the Applied Wealth Management paper which is a constituent of the CISI Masters in Wealth Management and sits on the Committee overseeing CISI’s role as an Accredited Body. In 2009 he was voted by his peers Compliance Personality of the Year! He speaks regularly on a range of regulatory topics.

Innes Miller,

With a background in financial services consulting, Innes joined Staffmetrix (now operating as as Chief Commercial Officer in 2017. Prior to this he established a business consulting practice focused on the UK savings and investments market before joining EY and latterly Standard Life. Through working with a broad range of organisations in the UK and abroad, he recognised those with diverse employee profiles are often more innovative, better balanced and rewarding places to be.

Given the importance of data and measurement as part of this process, has just relaunched its gender pay gap reporting and diversity analytics platform to help organisations identify and address risks relating to gender imbalance or their diversity profile that could impact their attractiveness to current or prospective employees, customers, investors and the media.

It also offers a free-to-use gender pay gap data analysis service which provides insights to the data submitted to the government at both a sector and individual organisation level. Organisations can use the service for benchmarking purposes.

Carl Redfern, Redland Business Solutions

Carl Redfern is the Compliance Director and Co-Founder of Redland Business Solutions, the market leader in specialist GRC Solutions for the Financial Services industry, for the past 15 years. I spend my time working with Industry Forums, Professional Bodies and Regulators to help to assess the impact and define the requirements of developing regulation; designing solutions to support key strategic functions within Compliance, T&C, Conduct Risk, Governance and Operations; helping businesses to develop the business case for people, culture and conduct initiatives. Over the last 24 months, I have been extensively involved in the development of the SM&CR regimes, working with industry bodies, both regulators and many firms, assessing the implications of the rules and designing specialist solutions to enable efficient and effective implementation. Redland have developed the only specially designed technology solution, Insight SMR, to help firms comply with SM&CR and holistically integrate Certification with wider Culture and Conduct programmes.

Stephen Hanks, FCA

Stephen became a financial services regulator in 2006 after almost 20 years as a civil servant. He worked on the level 1 negotiations on MiFID II, the FCA’s policy implementation and is now involved in onshoring MiFID II as part of Brexit.

James Brown, Compeer

James joined Compeer in October 2006 as an Analyst following his graduation from The University of Warwick, where he studied Mathematics, Operational Research, Statistics and Economics.

Today he manages Compeer’s team of Analysts. He has widely presented key trends in the UK Wealth Management Industry, with in-depth experience of providing statistical analysis of firms’ business performance. He regularly provides recommendations during presentations to Executive boards and is actively involved in bespoke research projects.

Rosalyn Breedy, Wedlake Bell

Rosalyn is a Corporate, Funds and Financial Services practitioner with inhouse and private practice experience. Her core clients are family businesses, family offices, private wealth  and alternative investment fund managers, trustees, private capital investors, and entrepreneurs (particularly private equity, hedge fund principals, fintech businesses) .

In addition to providing strategic advice Rosalyn establishes private funds, advises family offices , private wealth and fund management businesses and acts on a range of private equity and joint venture deals.

Rosalyn also provides financial services regulatory and commercial advice, with a particular interest in the development of new products and business models focussed on technology. She has a keen interest in financial regulation and policy work and writes and speaks regularly on these matters.

Rosalyn is recommended as a Top Five Corporate Lawyer in Spear’s 500 from inception in 2015, 2016 and 2017.

Rosalyn has written over 50 articles for a range of private wealth publications and has presented seminars for family office conferences, accountants, wealth managers, alternative investment fund managers and fiduciary services. She has spoken in London, Guernsey, Isle of Man, Jersey, Montreux, Geneva, Monaco, Vancouver and Cape Town.

Phil Thomas, Quilter Cheviot

Phil has 20 years + experience in risk and compliance across, insurance, banking and asset management.  He started his Career at Abbey National Independent Financial Advisors and subsequently held compliance management roles at Chequers Financial Service and Money Matters.  In 2004, he spent 4 years working in supervision at the Financial Services Authority, before joining Old Mutual Plc.  He has since worked in various senior risk and compliance roles within, Old Mutual Plc, Old Mutual Bermuda and Old Mutual Wealth (UK, Europe and International) before becoming Chief Risk Officer at Quilter Cheviot at the end of 2016.

Paul Martin, LGT Vestra

Paul was Global Head for 7 years at BNP Paribas Asset Management (Fortis Investments), 12 years Global Head of Compliance at Pictet Asset Management. 2 years at Barclays Wealth & Investment Management Global Head of Product Compliance including Investment Management. He also spent 3 years as Head of Risk and Compliance (CRO) at Quilter Cheviot.

Today he is a Partner and Head of Legal Compliance and Risk at LGT Vestra and is also a member of PIMFA’s regulatory committee.

Anna O’Shaughnessy, Rothchild & Co

Anna is Head of Compliance for Rothschild & Co Wealth Management in the UK.  Her whole career has been spent in the London financial services sector.  She trained as a Chartered Accountant at KPMG in its London Financial Services division before moving to the PRA-Bank of England (previously the FSA) in 2009 where she was part of the specialist supervision unit set up by Sir Hector Sants in response to the failure of Northern Rock.  Anna worked on a number of high profile projects during her career at the regulator, including the review into the failure of RBS required by the Treasury Select Committee and led by Lord Turner, the-then Chairman of the FSA.  More recently Anna was a Director of Internal Audit at TSB during its de-merger from Lloyds Banking Group, IPO and subsequent sale to Banco Sabadell.

Hugo Watson Brown, Smith & Williamson

Hugo Watson Brown is the Director of Regulatory Policy at Smith & Williamson.  A chartered accountant by training with a specialism in tax, he spent 15 years at a boutique investment bank focusing on alternative investment strategies.  His interest in regulatory policy developed whilst working at an international consulting firm in the aftermath of the 2007/8 financial crisis where he advised clients on the emerging post-crash regulatory landscape.  At Smith & Williamson, he is co-ordinating the implementation of regulatory developments.

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