White Papers

The Evolving Role of Compliance


SIFMA, the SIFMA Compliance & Legal Society, and SIFMA’s Compliance and Regulatory Policy Committee publish The Evolving Role of Compliance.  

The Evolving Role of Compliance builds upon another White Paper on The Role of Compliance that the Securities Industry Association (the predecessor organization to SIFMA) Compliance & Legal Division issued in 2005. The 2005 White Paper discussed the role that the Compliance Department plays in support of securities firms’ efforts to develop and maintain an effective overall compliance program.

Since the publication of the 2005 White Paper, multiple forces have impacted the financial services industry – the 2008 financial crisis, globalization, the use of new technologies, and new, complex and expanded regulatory requirements. These events have had an equally significant impact on the role of compliance within securities firms.

The Evolving Role of Compliance discusses the changing role of the compliance function in securities firms in light of these events and explores the challenges that firms and their compliance professionals currently face on a daily basis. This White Paper also offers recommendations to assist senior management, regulators and compliance personnel in defining the appropriate role of compliance in an increasingly complex and variable environment