AFS Compliance recognised for excellence in compliance at Finance Connect Summer Awards

As regulatory expectations continue to increase across the finance industry, strong compliance is becoming ever more closely linked with customer outcomes, commercial performance and long-term business resilience.

At the Finance Connect Summer Awards 2026, AFS Compliance Ltd was recognised for its approach after winning the Excellence in Compliance Award, sponsored by Shoosmiths.

The award provides independent recognition of the standards AFS Compliance has developed across its business and network, at a time when firms are navigating an increasingly complex regulatory environment.

For Mike Geddes, AFS Group Legal & Compliance Director at AFS Compliance Ltd, the accolade recognises both the company’s compliance framework and the culture that supports it.

“This award is a significant achievement for everyone involved in the business,” he said. “It provides independent industry recognition of the standards we have worked hard to build over many years and validates not only what we do, but how we do it.

“In the current regulatory environment, where governance, customer outcomes and accountability are under increasing scrutiny, receiving this kind of recognition gives confidence to our colleagues, our appointed representatives, our lender partners and, ultimately, our customers that we operate to the highest standards.”

From reacting to anticipating

The regulatory landscape has continued to evolve during the past year, with the ongoing impact of Consumer Duty, developments around motor finance and increased scrutiny of commission disclosure and customer outcomes all creating additional considerations for firms.

However, Geddes believes the more significant change becomes apparent when looking at the longer-term evolution of regulation since the Financial Conduct Authority took responsibility for consumer credit.

“The pace of change has accelerated considerably, and firms can no longer afford to be reactive,” he said.

“For us, success comes from continually horizon scanning, anticipating future regulatory expectations and investing in our people, processes and technology so that we are prepared before changes arrive, rather than responding afterwards.”

That shift from reactive compliance towards anticipating future requirements is increasingly important as regulation becomes more deeply embedded within firms’ wider business strategies.

Governance and growth can work together

One of the challenges facing finance providers and intermediaries is maintaining robust governance without creating processes that unnecessarily restrict their ability to respond to customers and commercial opportunities.

For AFS Compliance, the two objectives should not be viewed as being in conflict.

“Governance and commercial success are not competing objectives, they should complement one another,” Geddes said. “The key is creating a culture where everyone, both internally and across our networks, understand that doing the right thing for customers is simply part of how we do business.

“When people share the same values and understand the reasons behind the rules, they focus on delivering for their customers rather than looking at ways to circumvent the rules. Combined with investment in technology and well-designed processes, this allows us to maintain strong governance while still delivering commercially.”

Culture at the heart of compliance

While systems, policies and processes are essential components of any compliance framework, Geddes believes culture ultimately determines how effectively they operate in practice.

“Culture is the foundation of effective compliance,” he said. “Policies, procedures and systems are all important, but they can only ever support the people operating them.

“If everyone within the business shares the same values and understands their responsibilities, compliance becomes part of everyday decision-making rather than a separate function.”

That approach can also deliver benefits beyond regulatory adherence.

“A strong compliance culture creates better customer outcomes, better decision-making and ultimately a stronger business,” Geddes added.

Compliance as an ongoing investment

For firms looking to strengthen their own frameworks, Geddes recommends beginning with governance and culture rather than viewing compliance principally as a collection of processes or regulatory requirements.

“Start with culture and governance, because everything else builds from those foundations,” he said. “Compliance should never be viewed as a box-ticking exercise or something owned solely by the compliance department, it needs to be embedded throughout the entire organisation.”

He also cautioned against treating the development of a compliance framework as something that can ever be considered complete.

“It’s also important to recognise that building an effective compliance framework is a journey, not a one-off project,” Geddes explained. “It takes time to develop the right culture, invest in the right people and systems, and continually refine your approach as regulation evolves.

“Firms that view compliance as an ongoing investment rather than a cost are generally the ones best placed to succeed over the long term.”