Seung Earm of Ibex Compliance on Why Regulation Is a Foundation, Not an Afterthought

Seung Earm is the co-founder of Ibex Compliance, a financial compliance advisory firm that gives smaller and growing firms access to senior, practical expertise. After nearly three decades in compliance, including time at Goldman Sachs and BNP Paribas and roles as an FCA-registered Chief Compliance Officer and Money Laundering Reporting Officer, she has watched the profession change through several financial crises and waves of regulation.

Seung was named a Q3 2026 Founded by Women Awards Honoree in the Consulting & Advisory Excellence category. It is a fitting recognition for an adviser whose approach rests on one idea: clients value someone who understands the regulatory landscape and, just as importantly, where it is heading.

In this extended Q&A, Seung shares the biggest shift she has seen in how regulators and firms approach data, the most common mistakes founders and smaller financial firms make when they first meet regulation, and her advice for women building a career in compliance and risk or starting their own advisory practice.

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Q: Looking back across your years in financial compliance, what is the biggest shift you've seen in how regulators and firms approach it, and where do you think things are heading next?

The biggest shift has been the growing role of data. Regulators and firms now rely on it for almost everything. Decisions are made on it. Regulations are changed because of it. Markets are monitored through it, and enforcement action often begins with it. Firms also depend on it for management information.

Yet the quality of that data is still not where it should be. Firms that invest time and money in improving their data will see the benefit over the long term.

There is a second challenge. Regulators now collect a great deal of data, and this can be inefficient and ineffective. It places an operational burden on firms, particularly those working across several jurisdictions with different requirements. There are encouraging signs of change. In Europe, discussions are under way to streamline regulatory reporting and reduce the burden on firms. This is a development to watch.

Artificial intelligence (AI) adds another dimension. As AI becomes part of how data is used, it is essential that firms work with AI that is reliable and workable in practice. A recent publication from the Financial Conduct Authority (FCA), the UK financial regulator, points the same way. It focuses on three areas: putting consumers first, clear accountability and governance, and operational resilience, including planning for when things go wrong. It shows how some firms use AI to protect consumers and govern it well. It also highlights weaker practice, such as deploying AI without a clear use case and failing to consider vulnerable customers. The FCA encourages firms to compare these examples with their own AI practices, and I agree with that approach.

I expect data quality, proportionate data collection and the responsible use of AI to shape the next phase of compliance.

Q: What are the most common mistakes you see founders and smaller financial firms make when they first deal with regulation, and what would you tell them to do differently?

The most common mistake is underinvesting in regulation, in both time and money. It is often one of the last things a new firm considers. Regulation is not only a requirement. A firm that is solid from day one earns credibility and trust. That helps to build its reputation and market presence, and it supports investor confidence.

I have also seen firms take a shortcut by using generative AI tools, such as ChatGPT, to draft policies or responses to the regulator. This is a risk. Regulators are alert to generic, unedited submissions, and it is not a good start for a new business.

My advice is simple. Treat regulation as a foundation, not an afterthought. Budget for it early. Make sure your policies and applications reflect your own business, and that your people understand them.

Q: What advice would you give to women building a career in compliance and risk, especially those thinking about starting their own advisory practice?

Compliance and risk is a rewarding career. I have worked through several financial crises and many regulatory changes, and each has taught me something new.

My main advice is to be adaptable. The profession is constantly shaped by factors we cannot predict. Recent examples include the rise of AI, rapid technological change and geopolitical events that affect compliance and risk decisions worldwide.

Do not simply react to change. Where possible, join the journey. Learn how AI can be used most effectively in compliance. Think about how you can help clients do the same, while managing their regulatory risk.

If you are considering your own advisory practice, build on that curiosity. Clients value advisers who understand the regulatory landscape and where it is heading.

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