Financial Services Firms Gather at Complinet’s 2nd European Customer Summit

Industry leaders discuss key regulatory challenges and costs associated with non-compliance

LONDON--()--Complinet, the leading provider of connected risk and compliance solutions for the global financial services industry, held its 2nd Annual European Customer Summit in London on May 6, 2009. Committed compliance experts addressed a crowd of 150+ industry professionals on a wide-range of topics, including how crucial effective and efficient compliance is to market stability.

Speaker panels at the forum consisted of financial services industry experts from Logica, Prudential plc, Julius Baer International, Calyon, CMS Cameron McKenna, Mayer Brown, Baker & McKenzie, PricewaterhouseCoopers LLP, Compliance Institute (UK) and others. They discussed a wide range of topics including managing the new global regulatory agenda, reducing risk in the boardroom, the problems and opportunities emerging from the payment services directive, the importance of software in compliance, how to manage and ensure regulatory satisfaction, and the costs associated with non-compliance.

In support of this agenda, Complinet also commissioned a “Cost of Non-Compliance” white paper outlining significant research that focuses on the need for vital compliance resources. Greg Kilminster, global head of content services at Complinet, established some of the main points of the paper. These include ”the clear link between investing in compliance and avoiding the financial and reputational costs of non-compliance.“ The paper is now available to download from the Complinet web site at www.complinet.com/costofnoncompliance

Chris Pilling, chief executive officer at Complinet, said, “It was evident at the summit that budgetary issues and increased regulatory pressures are creating an environment for risk and it is critical for firms to understand the impact of non-compliance. The topics and solutions addressed were extremely well received by our partners as they understand how critical it is, particularly this year, to have technology working for you to save you time and money."

Feedback from several summit delegates included:

  • "Very well-coordinated summit with an excellent range of speakers covering key industry issues and forthcoming regulation, dynamic use of technology, risk at senior management level and an excellent summary of Complinet’s white paper on the costs of non-compliance.”
  • “I recently went to the FSA Financial Crime Conference, but I found the Complinet European Customer Summit more informative. The fact you covered the payment services directive was very impressive and relevant.”
  • “Very enlightening…There were new issues raised and I learned a lot – particularly the panel session on Risk in the Boardroom. It’s pertinent and relevant for me in my job at the moment. Excellent information and very valuable.”

About Complinet

Complinet is the leading online provider of connected risk and compliance solutions to the global financial services community.

Complinet's cost-effective range of services includes a 'complete' service that delivers insight and interpretation of regulatory risks and developments. Our portfolio also helps firms to screen their clients, manage their policies and train their staff.

Complinet was founded in 1997 and employs more than 200 people in its offices in New York, London, Sydney, Melbourne, Singapore and Dubai. Every day, industry professionals in more than 1,800 firms across 81 countries rely on Complinet as their information partner for ongoing analysis and solutions that help them keep pace with changing regulations.

www.complinet.com

Contacts

Complinet
UK
Michelle McCann
Tel: +44 (0)870 042 6400
pr@complinet.com

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Contacts

Complinet
UK
Michelle McCann
Tel: +44 (0)870 042 6400
pr@complinet.com