When an inspector calls: How to get the most out of your compliance visit

After 14 years spent in financial services compliance, the last 12 conducting visits to FSA regulated firms, I have begun to think that people in my line of work have quite a lot in common with dentists (don’t worry, this is not the lead in to a ‘gap-filling’ gag!). Firstly, nobody is ever happy to see us. Secondly, we can tell that when you are saying ”Hmm, yes I’ll definitely start flossing every day / making better use of my back-office system” that at least 50% of you are thinking “Phew, thank goodness that is over and done with, I’ll start thinking about what you’ve advised me do in...