A CRITICAL EVALUATION OF THE COMPLIANCE ADMINISTRATIVE CONTROL SYSTEM WITHIN ALBERT E SHARP AND ITS MOTIVATIONAL IMPACT UPON THOSE IT IS SUPPOSED TO CONTROL

Abstract

Schedule 2 of the Financial Services Act 1986 (FSA) was amended by s. 204(1) of the Companies Act 1989 to make it incumbent on self‐regulatory organisations (SROs) to have a satisfactory mechanism to take account of cost factors in compliance. Critically, however, published regulatory guidelines for the assessment of cost of compliance fail to address a key and fundamental quantitative aspect of the entire industry equation — that of people and the impact of a compliance based control administration upon their individual professional motivation. This paper attempts to evaluate critically such a compliance administrative control system on the employees of an FSA authorised financial institution.

Citation

HAGLAND, G. (1995), "A CRITICAL EVALUATION OF THE COMPLIANCE ADMINISTRATIVE CONTROL SYSTEM WITHIN ALBERT E SHARP AND ITS MOTIVATIONAL IMPACT UPON THOSE IT IS SUPPOSED TO CONTROL", Journal of Financial Regulation and Compliance, Vol. 3 No. 1, pp. 28-35. https://doi.org/10.1108/eb024824