About The Institute
Our History
The World’s Newest Profession
The Institute started in 1990 as an association, in what is now the South West Region, following the ‘Blue Arrow’ affair. We have moved a long way since our beginnings to our present structure, as the Compliance Institute, which dates from mid 1997. From the Institute's launch we offered examinations leading to Industry recognised compliance qualifications. Sir Howard Davis and Dr. Oonagh McDonald CBE endorsed this at our launch and Sir Howard again in 2000 at the Compliance Institute annual dinner.
We enjoy a constructive relationship with the FSA. The Regulator shares our aims of improving compliance competence and promoting investor protection. Phillip Thorpe (former FSA Managing Director) said “FSA attaches considerable importance to the competence of compliance staff and recognises the value of a clear and demanding examination structure. The Regulatory process is more effective in achieving high standards of consumer protection if the professional standards of those in compliance are enhanced. We see the Compliance Institute’s initiative as supporting the FSA’s aims and facilitating the development of best practice.”
In legal terms we are a non-profit making organisation and all income is returned to Members in the form of benefits. Little needed to be changed from the association to the Institute (other than examination and qualifications) and adjusting the powers of council and changing it to a Board structure. The Board is made up of member volunteers who are voted onto the Board at the AGM, together with Regional Chairpersons. Voting rights were changed to be exercisable by qualified members (Associates and Fellows) only. However all other benefits, are available to ALL members (except Ordinary).