May 10th 2010

Hitec Laboratories, the leader in software solutions for information and governance management, today announced the publication of a White Paper entitled “Demonstrating Rigorous Governance in the Face of Aggressively Rampant Regulators”.

The White Paper investigates the implications of the Financial Services Authority’s (FSA) plans to become more aggressive in the way it monitors regulated organisations. “Supervision will be inherently more confrontational and intense,” was the pledge made by FSA Chief Executive

Hector Sants in March 2010. As evidence of this, the FSA fined 11 individuals a total of almost £1.6 million in the first quarter of 2010 for management failings, including poor compliance monitoring and failing to act with competence.

“Much of the focus comes down to defining, communicating and auditing clear policies and procedures that clearly show an organisation is taking every reasonable step to practice good governance,” explained the author of the white paper, Hitec’s Chris Heslop. “What we’ve seen among our customers is recognition of the need to articulate strategies that enable this.” The paper explores three core elements of these strategies: demonstrating visibility of policy awareness, demonstrating control over operational processes, and balancing the inevitable increase in regulatory costs with improved operational efficiencies.

Hitec manufactures software solutions that ensure staff receive understand and sign up to key policy documents, and audits their acceptance across the organisation.