In a bear market, the financial services industry, in which participants are remunerated by commissions based on volumes, may be tempted to ‘cut corners’ when it comes to compliance to achieve the same income as previously enjoyed in a bull market. But in this white paper, the Australasian Compliance Institute argues such industries should increase their spending on compliance, not the reverse.ÂÂ
On Practice
The merit of alleviating key-person risk via process documentation
The importance of comprehensive process documentation is overlooked, with a mere 10 per cent of advice practices having their processes clearly documented. With most small businesses having a ‘key person’ holding the information in their head, the risk of that information disappearing is significant.
Beata KuczynskaMarch 17, 2025
