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
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...