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Compliance Related Services

Supports financial institutions in conducting customized diagnostic or in-depth assessments to identify and address areas for improvement.

Supports financial institutions in conducting customized diagnostic.

Our approach is to customize our services to best suit our clients' needs. Our wide range of compliance related services will assist in meeting the host of challenges that financial institutions face in this ever changing regulatory environment.

Our services include:

Review of Regulatory Compliance

Assist in conducting a regulatory diagnostics review and identify areas or gaps which fall short of the applicable regulatory requirements.
Perform process reviews and assessment of effectiveness of compliance controls.

Review of Regulatory Returns and Reporting Process

Review and assess the preparation process for regulatory reporting.
Review the regulatory returns for completeness, accuracy and integrity of information reported.

Develop Compliance Manuals

Assist in developing compliance manuals, covering applicable regulatory requirements prescribed by MAS and industry best practices.

Develop Key Obligations Register

Assist in establishing a Compliance Obligations Register, addressing the applicable relevant laws and regulations.

Provision of Regulatory Specialists

Provide regulatory specialists to assist in regulatory and compliance matters. Augment and broaden the compliance team’s capabilities.

Provision of Training

Provide training on regulatory topics to raise staff awareness and equip them with the relevant knowledge on regulatory requirements to carry out their day-to-day responsibilities. Provision of Regulatory Advice
Provide regulatory advice on an on-going basis or on specific matters (e.g. complex structures/transactions).

Success stories

Client	Project Description
Strategy and Impact Assessment
Central Bank	Assisted the central bank in creating a roadmap to a smoother, smarter retail payments landscape in Singapore. The work includes examining the regulatory and governance frameworks in other best-in-class jurisdictions and recommending them for adoption in Singapore.
European Bank	Assisted the bank to assess the feasibility of setting up a locally-incorporated subsidiary in Singapore. The assessment included the evaluation of regulatory implications for various set-up options proposed by the bank under different banking licenses such as liquidity, capital and operational considerations, and the recommendation of an appropriate set-up option based on the bank’s strategic requirements.
Australian Bank	Performed a review of the regulatory implications arising from the bank’s expansion of transactional banking business in Asia Pacific region. The review included the evaluation of all regulatory and operational implications arising from the introduction of transactional banking products and services, recommendation of appropriate actions to address those regulatory and operational considerations, and provision of industry best practices and regulatory "hotspots".
Training
European Bank	Provided training to Senior Management covering key MAS regulatory returns, highlighting the key requirements and common errors noted from other banks in preparation of these returns.
Dutch Bank	Provided training to Senior Management and bank staff on selected Singapore banking laws and regulations, covering topics such as lending and investment restrictions, capital and asset maintenance requirements, anti-money laundering requirements and Foreign Account Tax Compliance Act ("FATCA").
Local Bank	Conducted regulatory awareness training which included topics such as an overview of the MAS regulatory regime, key Singapore banking laws and regulations, Personal Data Privacy Act, and international regulatory developments.
Regulatory Reporting Review
Chinese Bank	Performed a review of selected regulatory submission returns to the MAS and provided our findings and recommendations where gaps and areas for improvements were identified. The gaps identified mainly pertained to errors, misclassifications or omissions in reporting. We had also provided recommendations on implementing additional controls to enhance the regulatory reporting processes.
German Bank	Performed a review of selected regulatory submission returns and provided a report of our assessment, including details on the deficiencies/gaps identified during the course of our review, and explanatory notes on how the data should be appropriately classified and computed.
Policies and Procedures Review
US and European Banks	Performed a review of the bank’s risk and control framework, which included assessing the adequacy and effectiveness of controls and processes over areas such as front office and sales surveillance activities, head office and management oversight, outsourcing, credit and collateral management, and customer due diligence processes. Policies and procedures were also reviewed to ensure that they were in line with MAS requirements and industry best practices. Where gaps or areas for improvements were identified, recommendations were provided.
Taiwanese Bank	Conducted a review of the bank’s policies and procedures over anti-money laundering to ensure that they were in line with MAS requirements and industry best practices. Where gaps or areas for enhancements were identified, recommendations were provided.