Regulatory & Operational Compliance
Overview
It is important for a financial institution to operate under the rules and regulations under which it is licensed and supervised. From the onset, the institution will need to establish a compliance organisation and monitoring framework that is appropriate for the size, scale and complexity of its business.
On-going compliance tasks have to be undertaken as follows:
- Preparing regulatory notifications and filings, as well as responding to ad hoc regulatory inquiries.
- Implementing anti-money laundering (AML), countering the financing of terrorism (CFT) and transaction monitoring (TM) procedures, including filing of suspicious transaction reports.
- Know your client (KYC) and investor due-diligence measures.
- Ensuring sales and advisory practices that are fair to customers and meet their financial goals and risk tolerence.
- Managing conflicts of interest within the institution and with external parties,
- Maintaining register of approved representatives, gifts and entertainment register, complaints log, personal account dealing file, training log, and vendor outsourcing register.
Our Services
We provide the following consulting services to assist our clients in meeting the above requirements:
- Provide advice to banks, financial institutions and startups in their application for licences and guidance on regulatory relationship.
- Develop Compliance Monitoring Framework, providing structured processes for the on-going monitoring, tracking and reporting of key compliance requirements and issues.
- Review the institution’s existing organization, compliance requirements and processes, and provide recommendations to put in place an effective compliance organisation structure and governance framework.
- Develop compliance policies to provide the necessary directives and guidance on key aspects of regulatory and operational compliance.
