17 May, 2019
Over the past decade, financial services have been one of the least trusted industries in consumers' eyes, according to a recent survey. Repeated misconduct and unethical practices in the financial services industry have contributed to that distrust. Hence, MAS takes a very serious view and they are actively clamping down on financial institutions and representatives who violate the regulations, as evident in the recent MAS enforcement report published on 20 March 2019, as well as, the prohibition orders it (MAS) meted out to 3 individuals for dishonest conduct. .
It is therefore much more important than ever for financial institutions to be compliant with the regulations in place. Without a compliance function, we cannot reliably build or maintain trust with others, or worse, we invite potential reputational damage. Financial institutions must take note of any relevant regulatory updates and adapt their businesses to them. Anti-money laundering policies must not be taken with a pinch of salt. Employees must try to adhere as much as possible to the processes and controls set in the compliance manuals. At Ingenia, we help our clients in understanding the regulations by providing a variety of regulatory compliance services and internal audit. With our professional expertise, you can be assured that all your compliance needs will be well taken care of. Separately, Ingenia has been working with a few clients by assisting them in securing the required registrations from MAS in setting up the fund management companies in Singapore.
It is therefore much more important than ever for financial institutions to be compliant with the regulations in place. Without a compliance function, we cannot reliably build or maintain trust with others, or worse, we invite potential reputational damage. Financial institutions must take note of any relevant regulatory updates and adapt their businesses to them. Anti-money laundering policies must not be taken with a pinch of salt. Employees must try to adhere as much as possible to the processes and controls set in the compliance manuals. At Ingenia, we help our clients in understanding the regulations by providing a variety of regulatory compliance services and internal audit. With our professional expertise, you can be assured that all your compliance needs will be well taken care of. Separately, Ingenia has been working with a few clients by assisting them in securing the required registrations from MAS in setting up the fund management companies in Singapore.
Launch of RegTech Sub-Committee of the Singapore Fintech Association
30 May, 6pm – 9pm @ 80 Robinson Rd, Downtown Core.
30 May, 6pm – 9pm @ 80 Robinson Rd, Downtown Core.
For further information, please contact:
Justin Kendrick, Head of Investments Solutions, Ingenia
contact@ingenia-consultants.com
