This British Standard specifies overarching policies, procedures and methods for operating a compliance framework (see Clause4) within a regulated financial services firm.
This standard sets out a methodology for implementing and managing the compliance framework at both group and line level.
The extent to which the requirements of this standard are applicable to an individual firm depends on the nature, size and complexity of the firm’s business.
NOTE Firms may implement this standard in a way that is relevant, appropriate and proportionate to their business model.
The standard does not specify requirements for risk management, data protection (covered in BIP 0012 and BS10012), complaints handling (covered in BSISO10002), or inclusive service provision (covered in BS18477).