Expertise

The increased use of financial sanctions by governments world wide as a political tool has resulted in their becoming one of the fundamental pillars of financial crime programmes.

With many of the most significant penalties imposed by regulators being the direct result of failure to abide by sanctions programmes, and resultant pressures throughout financial networks, every anti-financial crime programme needs to cater for sanctions compliance. However the complex and fragmented sanctions landscape as well as the significant number of entities which require monitoring makes sanctions compliance difficult and cumbersome. Name screening practices, for example, can create significant workloads without yielding improved compliance outcomes, if incorrectly deployed.

Shoulder Compliance assists clients with the development of effective sanctions policies, tool selection and testing, as well as staff training.

Insider dealing and other forms of market abuse are some of the more challenging financial crimes for compliance programmes to detect and mitigate.

In particular, an effective anti-market abuse programme requires detailed and readily available transaction and market data, appropriate monitoring tools and procedures, and robust corporate culture and controls. Regulators across the globe have been investing heavily in systems and personnel, increasingly gaining the ability to detect and prosecute misbehavior. Private sector operators likewise need to strengthen their compliance programmes in order to demonstrate compliance with the required standards.

Shoulder Compliance provides assistance with the development and/or selection of appropriate monitoring systems, as well as the deployment of market abuse specific rule sets. We also support businesses with the development of appropriate policies, internal governance structures and training plans.