Regulatory change management
The work of noticing what a regulator has published, deciding whether it applies, and carrying it through to changed policies and evidence.
A regulator publishes a consultation, a handbook update or a Dear CEO letter. Someone has to notice it, decide whether it applies to the firm, work out which policies and controls it touches, change them, and be able to show an examiner later that all of that happened.
Most firms run this through inboxes, spreadsheets and memory. The failure is rarely missing the publication; it is being unable to prove what was decided about it, by whom and when.
Where the rules use it.
- GFSC Handbook on Countering Financial Crime (AML/CFT/CPF)The Bailiwick's AML/CFT/CPF rules and guidance for financial services businesses and prescribed businesses, issued under the Criminal Justice (Proceeds of Crime) regulations.Guernsey · 8 controls
- JFSC AML/CFT/CPF HandbookHandbook for the prevention and detection of money laundering, terrorist financing and proliferation financing under the Money Laundering (Jersey) Order 2008.Jersey · 8 controls
- FCA Handbook — SYSC (Senior Management Arrangements, Systems and Controls)Governance, compliance, risk control, internal audit, record keeping and financial crime systems and controls.United Kingdom · 6 controls