Chapter 5 - The Compliance Hub
Sometimes, things go wrong.
When running a financial advice business, it is expected that breaches and incidents will occur.
Nobody is perfect and breaches and incidents will happen.
Step 1: Open the Compliance Hub
It’s about building a culture of reporting. Even if you are unsure if the incident may or may not be a reportable situation, it needs to be normal business practice to report the incident to your compliance manager
How Do I Report A Breach or Incident?
Reporting a breach or incident is easy using the iC2 Compliance Hub.
Step 2: Add the New Breach/Incident
Action Required:
From the top navbar, click the ‘Add New’ icon.
Then select Breach/Incident
Step 3: Create New Breach Popup
Step 4: Email Confirmation
From the Apps Menu, select the Compliance Hub. This will open the Compliance Hub in a new tab.
You will recieve an email confirming your breach has been received, and the next steps.
You can download the licensee breach policy from the email.
Your compliance manager will start the breach assessment process and advise what needs to be completed.
Action Required:
Complete the ‘Create New Breach’ popup.
You will need to provide information such as the date of the breach, description of the breach, how it was detected, how long it lasted and any other information.
