What the profession requires.
WHAT TYPICALLY APPLIES
Individual licensing or membership Firm registration, where required Continuing professional development Conduct rules Client money rules, where applicable Mandatory insurance Reporting obligations
WHAT TO ESTABLISH
What applies to your profession and firm, specifically.
WHAT CONTINUING DEVELOPMENT REQUIRES
Defined hours or activities annually Records Sometimes specific subjects
WHAT TO TRACK
Requirements per individual, and completion.
WHY
Non-compliance affects practising status.
WHAT CONDUCT RULES TYPICALLY COVER
Independence and objectivity Confidentiality Conflicts Competence Client care Advertising and how you describe the firm Fees and their disclosure
WHY ADVERTISING RULES MATTER
Descriptions of expertise and claims about outcomes are restricted in many professions.
WHAT TO ESTABLISH
What you may and may not say.
WHAT ANTI-MONEY-LAUNDERING OBLIGATIONS TYPICALLY REQUIRE, WHERE THEY APPLY
Client identification and verification Understanding the source of funds Risk assessment Record keeping Reporting suspicions Training
WHY THEY MATTER
Obligations fall on individuals personally, and failures are serious.
WHAT TO ESTABLISH
Whether your work falls within scope.
WHAT TO NEVER DO
Proceed without identification where it is required.
WHAT TO RECORD
Verification, risk assessment and decisions.
WHAT TO CALENDAR
Renewals, returns and development requirements.
