Training and culture vital to ensuring strong compliance, conference hears

The compliance profession is a people industry, and employers need to understand why they are training people and how training will affect their company’s business, said speakers at a Hong Kong conference. In a panel debate on compliance and training at the third Pan-Asian Regulatory Summit in Hong Kong, organised by Thomson Reuters, panellists said training and a culture of compliance was key to avoiding a wide range of risks such as reputational damage and fines.

David Nutman, regional head of compliance at Prudential in Asia, said at the conference that one of the other key factors for companies to consider was recognition for compliance officers.

"Recognition is very important, [it] is not just about positioning compliance from a financial point of view, it is equally about positioning them ...in an organisation to influence and make a direction change in behaviour generally."

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