Regulations cast responsibility upon the Board of Directors, who would implement it through the compliance function. It stands to reason that they will be held responsible to ensure that are no lapses. The BoD and the Compliance Officer would need to start by setting up a structure, system, policy and SOP for the Designated Persons and others to follow.
Affinis incorporates these elements, including sending reminders for compliances as well as escalations and exception reports.
