Networks are failing on compliance

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One might expect appointed representatives (AR's) of networks to be in better shape than directly authorised (DA) advisors when it comes to compliance.

Especially given that the networks sell their services on this basis. However, the findings of a major research study by MS2M have found that AR’s don’t perform any better than DA’s. Furthermore, for those firms who had appointed representatives of their own, the results were also disappointing. This might indicate a possible failure on the part of the principal firms to sufficiently monitor the activities of their AR’s. Based on a detailed questionnaire completed by 130 intermediary firms in March 2008, 40% of all firms did not have business plans or business continuity plans and 25% di...

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