COMPLIANCE CULTURE
| Date | 01 January 1996 |
| DOI | https://doi.org/10.1108/eb024866 |
| Pages | 41-46 |
| Published date | 01 January 1996 |
| Author | DAN JENKINSON |
| Subject Matter | Accounting & finance |
COMPLIANCE CULTURE
Received: 24th October, 1995
DAN JENKINSON
DAN JENKINSON
IS THE COMPLIANCE OFFICER OF
NATWEST LIFE (NWL). HE WORKED FOR
NATWEST INSURANCE SERVICES (THE
NATWEST GROUPS IFA)
BEFORE
MOVING
TO NWL IN
FEBRUARY
1992 TO
PREPARE
FOR THE COMPANY'S LAUNCH IN
JANUARY1993. HE IS RESPONSIBLE FOR
COMPLIANCE IN THE MARKETING AND
PROCESSING OF ALL THE COMPANY'S
PRODUCTS — THOUGH NOT FOR THE
SALESFORCE WHICH IS EMPLOYED BY
NATWEST BANK ITSELF. HE WAS CALLED
TO THE BAR IN 1981. HE CAN BE
CONTACTED AT NATIONAL
WESTMINSTER LIFE ASSURANCE, PO BOX
NO. 886, TRINITY QUAY, AVON STREET,
BRISTOL BS99 5I.J. TELEPHONE (0117) 940
4040,
FAX (0117) 910 4222.
ABSTRACT
There
is much talk of
'compliance
culture'
and, latterly,
'compliance
ethos'
and it is
generally assumed that this is a good
thing,
by
definition.
This
paper
suggests
that the
existence
of
a
compliance
culture is never in
doubt
—
all firms have
one,
the
question
is what is
its
orientation?
The paper
proposes
three
possible states
of a
compliance culture
and
suggests some qualitative measures of a
positive or pro-compliance
culture.
The paper is an
extract
from a
submis-
sion made to NatWest Life's Audit and
Compliance Committee
in
February
1995.
'Experience suggests that in order
for effective standards of conduct
to be achieved, it is important that
firms establish a compliance cul-
ture...Members will therefore
also be encouraged to take steps to
engender the necessary positive
attitude towards compliance in
their organisations.'1
INTRODUCTION
The purposes of this paper are to:
- define the determinants and attri-
butes of, requirements for and ways
to measure a positive compliance
culture
- summarise, briefly, work done at
NatWest Life to create such a cul-
ture
- stimulate further discussion.
41
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