Trends to watch in financial regulatory enforcement

Author: Karry Lai | Published: 23 Oct 2018

Financial regulators across Asia are focusing on preventative and monitoring measures, and on improving the effectiveness of compliance in their enforcement direction, in a bid to make financial regulation frameworks more efficient.

Speaking at the Asialaw Asia-Pacific Dispute Resolution Summit in Hong Kong in September, Jessica Bartlett, director, financial crimes, at Barclays said regulators have been zeroing on more tailored and risk-based controls.

"Effective compliance doesn’t necessarily mean more people and money," she said. For instance, when it comes to sanctions screening, it’s necessary to look at ways to screen with lower false positives rather than expending resources in areas that are not needed. "You still see box-ticking compliance being done but financial institutions are savvier in risk-based solutions as regulators’ assessment of risk become...


 

 

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