Camilla Cater joined RQC Group in October 2017 and is a Senior Director. She provides regulatory advice and on-going compliance support services to a wide range of investment firms who are also registered in the U.S. with the SEC and the NFA. She has undertaken secondments at a number of FCA regulated firms, including assisting newly authorised firms implement tailored compliance infrastructures, implementing regulatory change as well as assisting with key regulatory processes.
Here Camilla shares her industry insights and advice, with a few other interesting nuggets….
How did you get into compliance:
A happy accident. The original plan was to become a regulatory lawyer but then I started to work at a boutique regulatory and compliance consultancy and, as they say, the rest is history!
Best advice for clients:
(1) Make sure you are actually doing what your policies and procedures say you are doing!
(2) It can be good to maintain a certain level of healthy paranoia about whether your compliance framework is working as it should.
Biggest challenges in the industry:
I think one of the biggest challenges I see amongst my clients is the lack of clarity about certain regulations – which is where I come in. I see my role as helping firms talk through their issues and working together to provide pragmatic solutions that also reflect the standards of their peer group.
Most rewarding part of the job:
Without a doubt, the people. I am very lucky in how much I enjoy working with my colleagues and clients.
Is there anything you think clients should be thinking about right now:
My clients are regulated by the SEC and/or the NFA so being prepared for an examination is critical – as its going to be a “when”, rather than “if” the regulator is coming in to go through books and records.
Favourite Quote:
There are quite a few from Alice in Wonderland but we can start with “Nothing would be what it is because everything would be what it isn’t. And contrariwise, what it is, it wouldn’t be, and what it wouldn’t be, it would. You see?” Reminds me a bit of some regulations I’ve read recently.
Advice for industry newbies:
Jump in! Get involved in as much as you can, be curious and ask questions (even if you think it’s too many questions) – just try not to fall too far down the rabbit hole!
Charity cause that’s close to my heart:
Action Aid, which is an international charity that works with women and girls living in poverty. Working alongside whole communities to find solutions, they the aim to end gender-based violence and fight poverty so that women and girls can create the future they want, which I find extremely inspirational.
