Membership of the online community, called MyComplinet, is free to anyone working in compliance in the financial services industry. It provides access to a comprehensive set of online networking and information services, including a message board, where members can post questions, contribute to discussion topics and network with their peers both nationally and internationally.

Services also include downloads of podcasts and webcasts on major compliance issues, whitepapers, details of Complinet's online training courses, and a newsfeed.

For confidentiality purposes, MyComplinet, allows professionals who are wary of catching the eye of regulators, to communicate and compare notes in an anonymous fashion.

UK marketing director Kimberly Allan says 18,000 members have already joined the networking community since its launch on October 29. She says Complinet expects to have 100,000 members within the next three years.

"The move away from prescription towards principles-based regulation has created an atmosphere of uncertainty that is spurring demand for more cross-industry discussion, guidance and access to information about compliance best practice," Julie Garvin, Director of Customer Programs at Complinet, said.