Home' A Plus Magazine : March 2017 Contents News
The Institute recently issued two new
compliance-related reports, Compliance
Process Review Report 2016, covering
findings and recommendations
made by the Institute’s Regulatory
Accountability Board on the
performance and operations of
the Compliance Department, and
Compliance Operations Report 2016,
summarizing the activities of the
Compliance Department last year.
The RAB conducted its fifth
process review of the operations of
the Compliance Department in 2016.
The purpose is to enhance the RAB’s
oversight of the department’s key
operations in case handling by:
Assessing whether the department
adheres to established internal
procedures when handling
complaints, investigations and
Evaluating the adequacy of internal
procedures applied; the adequacy
and appropriateness of information
gathered during case handling; and
the time taken to process cases; and
Identifying areas that require
improvements and implementing
The cases were selected for review
from 113 cases completed during the
period beginning 1 October 2015 to
30 September 2016.
From the total population, the RAB
chairman selected 22 cases for review
based primarily on public interest and
completion time. The selection included
nine disciplinary cases, seven Resolution
by Agreement cases, five complaints
and one investigation. The RAB paid
specific attention to the assessment of
case gravity in each case.
RAB found that all selected cases
were handled by the Compliance Depart-
ment in accordance with established
internal procedures, and it made recom-
mendations for improvements on timing.
Meanwhile, Compliance Operations
Report 2016 sets out the department’s
key activities and statistics for the year.
As part of its regulatory function, the
Institute addresses complaints concern-
ing ethical and professional conduct
of its members, member practices and
Complaints are objectively analysed
by the department to determine if there
is reasonable suspicion that a prima facie
case exists. Before conducting enquiries
of members, the department will ensure
that the subject matter is:
Within the jurisdiction of the
Supported by sufficient evidence.
In 2016, the Institute received 92
complaints, including those originated
from the Institute, and received from
other regulators and external parties.
The Professional Conduct Committee
resolved 90 complaints while
Disciplinary Committees issued 12
disciplinary orders during the year.
There were 14 cases concluded by
Resolution by Agreement.
The two reports, as well as more
details about the roles and processes
of the department, are available at the
Compliance-related reports published
4 March 2017
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