UK compliance officers cannot afford to close their eyes to the scrutiny of foreign regulators, according to one regulatory lawyer, who added that firms are increasingly hiring international compliance officers to provide global oversight. Richard Burger, a partner at RPC, was talking following the release of figures obtained by the law firm. The figures reveal that requests from foreign regulators to the Financial Conduct Authority, and previously the Financial Services Authority, have more than doubled since before the financial crisis. The regulator received 885 requests from foreign enforcement agencies in 2012 compared to 464 in 2006. The requests peaked in 2011 at 1,023, according to the figures. Burger said the increased watchfulness of foreign agencies had prompted firms to add an additional level of compliance personnel. "Some firms are employing international compliance officers who have a remit to go around the different territories to give a strategic oversight of companies.
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