Sophie Grace director Sophie Gerber lays out the obligations reporting entities must adhere to for compliance with AML/CTF rules in Australia.
The Final Report on Australia's Royal Commission packs a swift and powerful punch which may well be felt for some time, says public policy specialist Matthew Chan.
Melody Gao at Sydney-based financial services consultancy firm Sophie Grace explains the implications of a bill to impose new design and distribution obligations on issuers and grant ASIC product intervention powers.
In the year ahead, banks will have to focus on seamless data integration and regtech adoption to cope with increasingly complex regulatory reporting requirements, says Wolters Kluwer’s Wouter Delbaere.
Derek McGibney at ACA Compliance Group lays out the activities investment firms should be undertaking to ensure ongoing compliance with the FMCC.
Banks will need to adapt existing AML programmes to include new monitoring scenarios and train staff to recognise human trafficking red flags, says Nick Turner at Clifford Chance.
Rather than disintermediating centralised market infrastructure, DLT is being used to support centralised ecosystems, says Matthew Chan.
A digital-first approach to customer onboarding can protect companies from internal delays, customer dissatisfaction, hefty regulatory fines and reputational risk, says Claus Christensen.
Whether offering OTC derivatives, forex or cryptocurrency, retail trading platforms must put client interests front and centre, says OANDA’s Anthony Griffin.
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