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Industry trends

Top 5 compliance trends around the globe in 2016

The top 5 trends for compliance departments in 2016 are:

  1. Creating a culture of compliance
  2. Increased investment in compliance operations
  3. Keeping pace with a changing regulatory landscape
  4. Encouraging whistleblower activity
  5. Monitoring third-party risk

Infographic details the top 5 compliance trends around the globe in 2016 include creating a culture of compliance, increased investment in compliance operations, keeping pace with the changing regulatory landscape, encouraging whistleblower activity and monitoring third party risk
Sources: Thomson Reuters Risk and KPMG Anti-Bribery and Corruption Survey


Compliance trends by the numbers

A culture of compliance

58% of businesses surveyed viewed promoting a corporate culture of integrity to be the ultimate goal of their compliance and ethics programs.

Increased investment in compliance operations

  • Last year, 71% of firms expected the cost of senior compliance professionals to increase to do the demand for skilled/knowledgeable staff.
  • This trend continues in 2016 with a high proportion of boards predicting a “significant increase” in compliance spending:
    • 75% of compliance leaders expect management will require more/much more attention.
    • More than 1/3 of organizations surveyed spend at least an entire day per week tracking and analyzing regulatory change.

Regulatory focus

Personal liability

  • 93% of practitioners voting at the 2015 Thomson Reuters New York Customer Summit expected the personal liability of compliance professionals to increase in 2016.
  • 64% of respondents to the Thomson Reuters personal liability survey expected that individual accountability would be replicated around the world.

Behavioral-based regulations

  • Conduct-related infractions are projected to exceed $20B globally.

Exposure to risk

  • 6,000 names of companies/individuals on OFAC’s Specially Designated Nationals and Blocked Persons list.
  • Fines of up to $20M and imprisonment up to 30 years for OFAC violations.
  • US Securities and Exchange Commission collected 114.8 million in 2015 Foreign Corrupt Practices Act enforcement actions.

Encouraging whistleblower activity

  • US SEC received 4,000 whistleblower tips and paid $37M in whistleblower rewards in 2015.

Learn more

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