News from PIMS 99 – DBS seek risk rating approach to lighten the compliance load

DBS is seeking to introduce a compliance risk rating scheme on members to enable it to lighten regulatory burdens imposed on its top firms.

Chief executive Tony Kempster wants the FSA to provide all network compliance officers with detailed information on procedures used for risk rating by the regulator.

Kempster believes DBS, the UK&#39s biggest network, with over 1,800 member firms, cannot get proper value from its budget without the FSA&#39s help and wants o adapt the system for the use of its members.