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Financial Products, Services and Documentation

Annie Mills

DOI: 10.1002/9780470699386.ch8 (Economics, Econometrics and Finance)
Licence : non indiquée (tous droits réservés)

Résumé : This chapter focuses on understanding products and services in context. A successful Compliance Officer understands the full range of products and services offered by a firm. If one does not understand this basic element of one's working environment, one is liable to give wrong or inappropriate advice, potentially getting oneself, one's firm and one's colleagues into trouble. Also important are the matters of credibility and good-will. There is an enormous range of financial products and services on offer and it seems as if new variations of these are being invented all the time. One cannot be an expert in all of them but one should at the very least know which products and services one's firm is permitted to trade/offer, be aware of which of these products and services have received internal approval, confirm which products and services one's firm is actually offering and involved in right now and be clear about the basis on which one's firm is involved with each product. One needs to have at least a basic understanding of the products and services offered by one's firm. The requirements and expectations of the financial services consumer vary greatly and so does the product offering available, but it is nevertheless possible to break these down into just a few basic categories. Inextricably linked with one's firm's products, services and activities is the documentation that holds it all together. The chapter lists four types of documentation.

Publié le 02 Jan. 2012