Do’s and Don’ts When Speaking with Regulators
The National Society of Compliance Professionals (NSCP) aims to foster collaboration and mutual understanding between industry professionals and regulators by inviting the latter to attend portions of our upcoming National Conference, which is less than two weeks away now. The goal is to provide regulators with insights from compliance professionals, industry leaders, and experts who deal with regulatory compliance on a daily basis, promoting effective and well-informed regulations.
The conference is not only a learning opportunity for regulators, but also a platform for open dialogue and shared understanding of the challenges faced by both parties. NSCP believes that this interaction will bridge the gap between regulators and compliance professionals, leading to better regulatory outcomes.
To facilitate comfortable interactions, we have compiled a list of do’s and don’ts for engaging with regulators. Attendees are advised to be respectful, introduce themselves, maintain a positive attitude, and possibly follow up with regulators if comfortable. However, we caution against discussing compliance and personnel issues, asking about rule proposals and adopted rules, and discussing regulatory examinations to avoid potential awkwardness and obligatory investigations.
This initiative is an important step towards creating an inclusive environment where different perspectives can converge to enhance the regulatory landscape.
Get the full list of ways to maximize your Conference experience in our NSCP Currents Special Edition: A Sneak Peek into the 2023 NSCP National Conference. This issue is available to the public. To receive NSCP Currents throughout the year, and stay up to date on issues that matter most for those in the financial services industry, join NSCP today .
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