Overview

It may seem a little obvious but Operations functions have regulation to comply with and that regulation comes from several different sources. Complying with this regulation is a key part of the role of Operations and so the manager and team need to be aware of their responsibilities in achieving this. As the level of regulation varies and some regulation can be very specific to a part of the function or even a process within the function, there is a risk that a failure to recognize or comply with a regulation could occur. This is very much the case for an organization with a diverse business or one that is heavily involved in international business and therefore operates under different regulators and regulation.

Regulation that applies to Operations is often complex, dealing as it does with everything from client protection to reporting requirements. Both the regulator in the jurisdiction and various other organizations that have rules such as exchanges and clearing houses set out the regulation. Compliance departments will play a major role in ensuring that these regulations are complied with and so we need to consider the relationship with compliance as well as that with the regulators. It is the case with most regulators that copious...