If European compliance officers think 2020 was bad, wait until they get a load of 2021.
Many of the problems the profession faced in 2020 will remain in place going into the new year—such as remote working and the associated compliance risks around fraud, cyber-security, data protection, and the lack of consolidated oversight—but new risks will also present new challenges, Brexit being one of them. Irrespective of whether the European Union and the United Kingdom can agree to a trade deal, legislative and regulatory changes are likely to appear across a range of industry sectors as a result of the U.K.’s decision to leave the single market.
