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Compliance & Regulatory Knowledge Dinner – April 17, 2018

In addition to our semi-annual Compliance Round Tables, we also host small-group knowledge-sharing sessions for compliance specialists with similar responsibilities. In April 2018, a select group of compliance specialists gathered for a dinner at an off-site location to exchange ideas on the topic of Special Supervision.

The topic was introduced by Rinske Fieten, Corporate Compliance Officer at ProRail. The seven compliance officers in attendance all worked in sectors that are heavily subject to (special) regulatory oversight: rail, energy, telecommunications, public broadcasting, and a regulatory agency itself.

During the introduction, Rinske outlined what Special Supervision means for ProRail and how the regulator’s requirements can be met. The compliance and risk officers in attendance then engaged in a discussion with one another, addressing the key challenges they face within their organizations and how they set priorities.

The participants quickly discovered that there are various parallels between the sectors in which they work. They discussed the extent to which it is possible to build a relationship or engage in dialogue with the regulatory authority. They also considered how far one should go when disagreeing with a board decision, and whether it is possible to remain independent and call into question a director’s integrity.

A key conclusion was that it is essential to keep your mission firmly in mind and—if necessary—to ensure you have support or to appoint an integrity committee. During dinner, the discussion also touched on: “agile” working, the shelf life of a compliance role, and what you can and cannot expect from an individual or colleague when it comes to integrity.

Looking back on the meeting, we note that its small-scale format fostered a sense of confidentiality, which is precisely the purpose of this type of small-scale gathering. Such a discreet setting allows participants to share insights openly, while also providing an opportunity to engage in critical thinking and learn from each other’s best practices.

Voxius regularly organizes these small-scale knowledge dinners. They are by invitation only and closely tied to the shared challenges faced by the participating professionals in the Regulatory & Compliance field.