For any Compliance Officer, Compliance Manager or SMF16 who has been in the UK financial services industry for any more than a year, this document is important.

Critically they will know that one of the first documents that they, as well as all staff, have to read and attest to having done so, is the Company Compliance Manual.

Although this is not a regulatory requirement ...

 it is a regulatory expectation!

There are a number of elements that the regulators not only expect to be documented, but also somewhere that explains the rationale behind the way company's manager their risks. This would clearly be best summarised in a regulatory Operational or Compliance Manual.

The Regulator expects a firm to have a personalised and firm-specific compliance or operational manual pertinent to the firm and embedded within its procedures and culture.

Most on-line and centrally maintained manuals offered by some consultants are considered NOT to be personalised, firm specific OR relevant enough to the individual firm.