INDUSTRY OUTLOOK
THE PROCESS OF HYPER-
REGULATION IN ASSET MANAGEMENT HAS SPED UP
We hear from José Fernando Martínez , Chief Compliance Officer at MAPFRE AM . He discusses the rise in regulation in the asset management industry over the past 26 years , the same number of years he ’ s been working at MAPFRE AM . In fact , he notes that there ’ s been an acceleration ‘ in this process of hyper-regulation , which seems more like a headlong rush .’ h
How long have you worked at MAPFRE AM and what are your responsibilities ?
In September , I will have been at MAPFRE for 26 years . I ’ ve always been with the same company . Regulation defines the Regulatory Compliance Department as a second-line control function , with primary objectives including advising the management company ’ s senior management , analysing regulations that affect the company , and preparing review plans to avoid the risk of legal non-compliance . Finally , Compliance must provide employees with the appropriate training to create a real prevention environment . The lever that drives all of the above is the mandatory reporting of all incidents to the Board of Directors .
What are the main challenges in regulatory compliance for an asset manager ?
The frequency of new regulations and guidelines has increased exponentially over the past decade . It ’ s really difficult to www . intelligentfin . tech
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