Specialised Solutions for Financial Advisers’ Compliance Management

We offer a comprehensive set of risk and compliance solutions tailored to a variety of financial advisers' compliance obligations. We can help you comply with financial advisers' regulations in a commercially oriented and goal-focused manner, providing a tailored approach to financial advisers' compliance management with regard to your specific circumstances, including:

• Your commercial objectives
• Your financial advisory and consulting solutions
• Your business size
• Your technology and human resources
• Your risk appetite
• Your governance structure
• Your client demographics
• Your countries of operation, their applicable laws, and relevant financial advisers' licensing requirements and regulations, including key aspects such as outsourced providers' monitoring, compliance training, risk management, audit, and assurance.
• Any related compliance obligations, including, but not limited to, financial advisers' obligations under privacy laws, anti-money laundering and counter-terrorist financing (AML/CFT) laws, fair trading laws, and more.
• Financial advisers' compliance assurance obligations, including internal control design and testing, implementation of compliance calendars, management plans, compliance assurance programs and other second and third-line compliance requirements.
• Specific operational compliance requirements for financial advisers, including but not limited to:
  • Client due diligence and onboarding
  • Surveillance and monitoring
  • Recordkeeping
  • Conflict of interest management
  • Regulatory technology (RegTech) integration
  • Internal reporting
  • External reporting
  • Transaction execution
  • Regulatory Filings

 

 

What Jurisdictions Do Our Compliance Solutions Cover?

Our compliance solutions extend across major financial markets and cover financial advisers' regulations and financial advisers' licensing requirements in the following jurisdictions:

• Australia: Where financial advisers must comply with the Australian Securities and Investments Commission's (ASIC) regulations under the Corporations Act 2001, mandating the acquisition of an Australian Financial Services Licence (AFSL) to provide personal financial advice to retail clients.
• United States: Where financial advisers are regulated by the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940 for those with regulatory assets under management of US$110 million or more. Advisers below this threshold generally register with state securities authorities and comply with state-specific investment adviser regulations.
• United Kingdom: Where the Financial Conduct Authority regulates financial advisers under the Financial Services and Markets Act 2000. Financial advisers must secure FCA authorisation and comply with the Retail Distribution Review (RDR) standards to maintain financial advisers' compliance.
• Singapore: Where the Monetary Authority of Singapore (MAS) regulates financial advisers under the Financial Advisers Act (FAA), requiring firms to be licensed to offer financial advisory services.
• New Zealand: Where financial advice must be provided under a Financial Advice Provider (FAP) licence issued by the Financial Markets Authority (FMA) under the Financial Markets Conduct Act 2013.
• European Union: Where financial advisers are regulated at national level under the Markets in Financial Instruments Directive (MiFID II), which sets conduct, disclosure, and client protection requirements.

What Types of Financial Advisers Do We Support?

Our financial advisers' compliance solutions cover the following types of financial advisory services:

• Independent Financial Advisers who provide personalised financial advice to retail clients.
• Registered Investment Advisers who manage assets and investment portfolios for clients.
• Retirement Planning Consultants who specialise in retirement planning and asset management.
• Estate Planning Specialists who focus on estate planning and wealth transfer for individuals and families.
• Investment Advisory Firms who offer investment advice and portfolio management services for retail and wholesale clients.
• Broker-Dealers who operate as both financial advisers and brokers in equity and debt securities transactions.
• Other Businesses Offering Financial Advice, that provide compliance solutions for businesses offering financial advice within the equity and debt securities industry, including services for retail clients, and ensuring adherence to the financial advice regime compliance.

 

Financial Advisers’ Compliance Advisory

Our focus areas include:

• Detailed Compliance Advice: Covering financial advisers' compliance management issues across the first, second, and third lines, as well as matters related to effective compliance with financial markets regulations and financial advisers' licensing requirements.
• Banking Relationships Advice: On risk and compliance issues related to managing and expanding relationships with banks, liquidity providers, and other financial institutions to help you meet their risk appetite requirements, anti-money laundering and counter-terrorist financing requirements, fraud prevention and recall volume expectations, and other compliance-related and operational standards.
• Operational AML Advice: Advising support, onboarding, KYC, operating and other teams on the day-to-day onboarding and support queue management, effective AML/CFT resource allocations, and operational improvements, helping you maintain the overall customer experience and efficiency while remaining compliant with the financial advisers' AML/CFT requirements.
• Operational Compliance Advice: Advising compliance, management, technology, and support teams on the day-to-day compliance with financial advisers' regulations, focusing on internal processes and critical internal controls for effective financial advisers' compliance management.
• Risk Management Advice: Covering risk rating and methodologies, risk assessments, management, and mitigation for various risk types faced by financial advisers, including regulatory, ML/TF, fraud, data protection, and operational risks. We help you safeguard against potential compliance breaches and comply with risk management obligations under financial advisers' licensing requirements and other applicable laws and regulations.
• Compliance Framework Advice: To help you create or enhance your compliance management framework, identify gaps and areas of improvement, meet the financial advisers' compliance obligations effectively, improve internal governance and reporting, and optimise them for market expansion and growth.
• Financial Advisers' Licensing Advice: We can guide you through the licensing process, help you apply regulations to your specific circumstances and business environment, and meet financial advisers' licensing requirements to become licensed or maintain it.
• Peer Benchmarking and Best Practices: We can help you benchmark your compliance practices against peers and applicable regulatory compliance guidance, identify areas for improvement and adopt best practices for enhanced compliance.
• Government Agencies Liaison Advice: We provide strategic guidance to senior management and compliance teams on maintaining and managing relationships with external bodies, including regulators, AML/CTF supervisors and law enforcement agencies, focusing on long-term compliance strategies and proactive engagement.
• Specific Financial Advisers' Compliance Issues: We can help you resolve specific risk or compliance issues related to financial advisers' regulations and compliance obligations, including but not limited to external audits and reviews, reporting, oversight, difficult clients or transactions, expansion challenges, compliance management issues, process optimisation, regulatory challenges you may encounter and more.
• Further information: You can visit our Regulatory Compliance Consulting Solutions page for a comprehensive list of advisory services we offer to financial advisers and other licensed financial institutions, financial services providers, and regulated businesses.

 

 

Reporting and Regulatory Liaison Solutions for Financial Advisers’ Compliance

• Regulator Liaison Management: Providing operational guidance to senior management and compliance teams on managing relationships with regulators, AML/CFT supervisors, police bodies, privacy commissioners, and other government entities. This includes handling requests for information, responding to ad-hoc regulatory inquiries, managing findings from audits and investigations, managing compliance with reporting obligations for financial advisers and more.
• Board and Committee Reporting: Facilitating structured reporting workflows for various committees and board delegates, including risk, compliance, and audit committees, focusing on your current compliance status, deviations from your risk appetite, changes in risk ratings and any operational compliance updates to ensure that governance structures are well-informed and aligned with compliance management practices.
• Compliance Performance Metrics: Developing and presenting comprehensive compliance performance metrics to the board or relevant committees, offering insights into your compliance effectiveness and identifying points for improvement in key compliance areas, including compliance training, fraud prevention, compliance monitoring, risk rating and assessment, controls effectiveness, adherence to your compliance calendar, regulatory technology (RegTech) performance, and more.
• Internal Audit Reporting: We can help you increase the effectiveness of the internal audit to make its findings reflect your actual performance against the financial advisers' compliance obligations. This includes developing tailored methodologies for the auditors, preparing the necessary audit evidence and reviewing audit results. The goal is to ensure that audit procedures and outcomes directly contribute to maintaining and enhancing your compliance status and internal controls' effectiveness.
• AML/CFT Reporting Compliance:  We help with the implementation of effective AML/CFT reporting processes, aligning with specific anti-money laundering regulations for internal oversight and prompt escalation of critical AML issues within your business to help the management receive a clear overview of your AML/CFT compliance status.
• Transactional Reporting: Implementing effective transactional reporting procedures to help with financial advisers' compliance management of reporting obligations under various laws and regulations, including submitting SAR, SMR, STR, PTR, TTR, specific reportable matters under the financial advisers' licensing requirements and other externally reportable transactions and activities.
• Internal Quality Assurance Reporting: While second-line control testing is crucial for complying with financial advisers' regulations, including financial advisers' licensing requirements, first-line quality assurance results are equally important for effective risk and compliance management. We help organise effective reporting lines, tailor reporting content to your specific circumstances, products, and team size, and establish a structured approach to responding to reporting outcomes.

 

 

Comprehensive Compliance Management Solution for Financial Advisers

Our compliance management services include, but are not limited to, the following:

• Financial Advisers' Compliance Management Leadership: We act as your Compliance Leads and Compliance Managers, fully managing compliance obligations under the applicable financial advisers' licensing requirements, laws, regulations, industry codes, and regulatory guidance.
• Second-Line Compliance Management: We offer a full range of second-line compliance assurance solutions, including internal controls testing for operational, compliance, marketing, legal and other risks, as well as managing issue closure control testing and more.
• Supporting the Board in Strategic Compliance Management: Advising on the necessary compliance resourcing, budget, tools, role structuring, and compliance functions' structure to support your specific business objectives within your risk appetite and risk management framework.
• Compliance Project Management: Effectively coordinating between senior management, committees, legal advisers, risk and compliance functions, outsourced providers, and different departments, including product development, technology, customer support, operations, assurance, marketing, and others, to help you successfully implement compliance projects across the business.
• Customised Governance Solutions: Tailoring governance frameworks and mechanisms to fit your specific governance structure and effectively comply with financial advisers' regulations and other applicable obligations. Whether your business is locally oriented, a start-up, undergoing expansion, part of a multinational group, has a listed parent company or is undergoing restructuring, we tailor the oversight of financial advisers' compliance management to your business case.
• Stakeholder Management and Reporting: Reporting to the board, committees, shareholders, regulators and other stakeholders. Providing management and the board with comprehensive compliance reports that cover your compliance with financial advisers' compliance obligations, regulatory development summary, compliance-related data and statistics, internal controls testing outcomes and more. Also covering the status of your specific compliance-related projects and compliance goals, relevant compliance KPIs, and more.
• Compliance Calendar Implementation: We design and implement compliance management programs and calendars, covering such areas of financial advisers' compliance obligations as policy and key document reviews, control testing, risk assessment and reviews, vendor reviewers, user system access reviews, assurance activities and more.
• Managing Customer Onboarding and Due Diligence: Implementing commercially oriented and compliant processes for KYC information collecting, Know Your Business (KYB), ML/TF risk assessment, PEP and Sanctions screening, CDD and EDD, especially for higher ML/TF risk clients, to help you comply with AML/CFT compliance obligations for financial advisers.
• AML Transaction Monitoring and Reporting: Developing and implementing a set of business-specific ML/TF alerts and red flags to detect and report suspicious transactions to comply with the financial advisers' AML requirements without making AML/CFT compliance a hindrance to business.
• Information Requests and AML/KYC Data Sharing: Handling information requests from law enforcement agencies, AML/CTF supervisors, and other relevant AML/CTF designated entities, such as your banking partners and other essential service providers (liquidity providers, finance providers, etc.), ensuring that you are fully supported in all AML/CTF compliance-related communications.
• Business Expansion Support: Providing support for your business expansion objectives, recognising and assessing new risks, developing and implementing controls and mitigations for them, as well as addressing new compliance obligations and putting in place practical tools and systems to manage them.
• Financial Advisers' Operational Compliance: Including but not limited to:
  • On-the-Ground Compliance: Conducting compliance management meetings, organising routine and ad hoc compliance reporting, overseeing mitigations and controls testing, leading adjustments and enhancements to your internal controls and protocols when required.
  • Compliance Process and Operations Building: Developing effective and compliant procedures and processes to implement your policies, support your operations across different teams and mitigate operational, regulatory and other risks.
  • Outsourced Provider Performance Monitoring: Setting up initial due diligence and ongoing review frameworks for your outsourced providers to help you meet the required service standards for outsourcing under various financial advisers' compliance obligations, including financial advisers' licensing requirements.
  • Incident Management and Reporting: We can help you set up effective processes for incident reporting, escalations, and management at different levels of your business.

 

Financial Advisers’ Compliance Assurance 

Our services include:

• Compliance Assurance Programs:  We can design and implement your compliance assurance program to maintain enhanced oversight of your compliance with both financial advisers' regulations and your internal compliance and risk appetite thresholds.
• Organisation-Wide Risk Assessments: Helping you focus on the specific risks faced by your business, considering its size, products, client types, jurisdictions of operation, delivery channels, financial institutions you interact with, available technology, and other tools. This includes assessing available mitigations, controls, their effectiveness, residual risk ratings, and the plan to move forward.
• Internal Controls Design: We can develop internal controls for various risk types, including regulatory, fraud, operational, strategic, financial, and other risks. Please visit our Internal Controls Design page for more information. 
• Assurance Testing: We conduct assurance testing to verify that the business complies with its policies, procedures, and financial advisers' compliance obligations, including financial advisers' licensing requirements. We also assess whether your internal controls effectively mitigate existing risks, including those required to be monitored under the applicable financial advisers' regulations. This process includes a compliance controls testing report and, if necessary, a gap analysis.
• Compliance Quality Assurance: We go beyond merely meeting regulatory requirements. We focus on evaluating and enhancing your risk and compliance management processes to ensure they align with your current and future goals, business model, your risk analysis, your current client inflow, and more. We also suggest which compliance processes you can use to meet your goals. Here is an example of this service in the AML/CFT area.
• Assurance Reporting: Compiling testing findings and issuing comprehensive compliance assurance reports, which include:

• Identification of any deficiencies or control weaknesses, with clear explanations and potential root cause analysis.
• Recommendations for corrective actions to address identified issues and enhance compliance effectiveness.
• Evaluation of the overall effectiveness of your internal controls and regulatory compliance monitoring program against your desired assurance level.

• Regulatory Inspection Readiness: We can help your business prepare for external audits and regulatory inspections, reducing the risk of adverse findings related to financial advisers' compliance obligations. This includes conducting mock inspections to identify gaps, reviewing documentation and record-keeping practices to ensure all relevant materials are well-organised and readily accessible, and training staff on their roles in the inspection process. We assist in identifying any missing information and weak points, provide interview preparation, and more to ensure readiness for auditor or regulator review.
• Further information: You can visit our Compliance Assurance Solutions page for more information on our third-line compliance assurance review solutions.

 

Compliance remediation solutions

Our focus areas include:

• Compliance Remediation Advice: Assisting financial advisers in effectively addressing and rectifying compliance issues, from minor breaches to significant regulatory challenges, including warnings and action plans.
• Remediation Plan Development: Following the independent review, we assist in analysing the findings to identify necessary remedial actions. We then support financial advisers in devising a detailed plan outlining these actions for submission to your regulator or an AML/CFT supervisor, ensuring the plan is both actionable and compliant with regulatory expectations.
• Remediation Plan Commitment: We help financial advisers complete their remediation plans and prevent non-compliance recurrence.
• Executive Attestation Support: Our services include assisting senior executives in preparing the required attestations to your regulator. This involves confirming that all necessary remedial actions have been undertaken and adequate compliance measures are in place, supported by comprehensive documentation and evidence. This option covers assistance with the removal of any licensing restrictions.
• Further Information: For more information, you can visit our Compliance Remediation Solutions page.

 

 

Internal Controls Testing and Financial Advisers’ Compliance Management

When it comes to reality versus a nice policy or procedure with nothing else to show for it, it’s often a case where a policy says A, but reality says B. One might ask, why didn’t we test our internal controls before? Or, why didn’t we do it properly? There’s nothing worse than faking compliance instead of actually doing it.

Our second line of compliance defence solutions covers the development, testing, and enhancement of a wide range of controls to ensure compliance with various laws and regulations governing financial advisers' compliance obligations.

We go beyond merely quoting financial advisers' regulations or a selection of licensing requirements, then adding Excel sheets painted in different colours as a supposed source of truth with nothing to show for it.

• We test them.
• We link them to your risk appetite and core risk management documentation.
• We provide relevant suggestions and analysis tailored to your business.

Some of our focus areas for internal controls testing include:

 

Regulatory Compliance and Licensing Controls

• Compliance Management: Financial advisory businesses are expected to have robust compliance frameworks to manage regulatory obligations, including conflict of interest management and insider trading prevention measures.
• Liquidity Management: Financial advisory businesses should ensure sufficient liquidity to meet operational needs, particularly those managing client assets.
• Capital Adequacy: Financial consulting firms must maintain sufficient tangible financial resources to absorb potential losses, particularly those holding client funds.
• Financial Auditing: Financial auditing may not universally apply to all financial advisers, especially those who do not manage client funds or hold financial assets. However, for financial advisers who do manage client assets, hold client funds, or are involved in more complex financial planning and investment services, regular financial audits are important to ensure transparency, accuracy, and compliance with relevant regulations.
• Regulated Counterparty Engagement: Financial consulting firms must comply with restrictions on engaging in transactions with financial service providers that are not regulated or authorised by a competent authority.
• Periodic Review and Reconciliation: Financial advisory businesses should conduct regular reviews and reconciliations of client accounts to verify transaction accuracy, ensure compliance with the advisory agreement, and assess the ongoing suitability of the investment strategy.
• Professional Conduct and Ethics Requirements: Financial advisory businesses are expected to adhere to high standards of professional conduct and ethical behaviour, as mandated by regulatory authorities like ASIC, SEC, FCA, MAS, and FMA, ensuring compliance with rules and regulations for financial advisory services.
• Competency Requirements: Financial advisers should meet specific competency requirements, including approved qualifications and continued professional development (CPD), to ensure they are qualified to provide financial advice.
• Staff Competence: Financial advisory businesses must ensure that all staff meet the required qualifications and complete necessary training programs, including professional year and competency requirements, to maintain a high standard of financial advisory services.

 

Operational Oversight Controls

• Outsourcing Oversight: Financial advice providers must maintain control and oversight over outsourced functions to ensure they do not compromise regulatory obligations, clients' information security, and more.
• Risk Management: Financial consulting firms are expected to establish comprehensive risk frameworks and procedures to identify, assess, and manage operational and market risks.
• Governance Arrangements: Effective governance structures should be in place to oversee operations and ensure responsible management and decision-making.
• Senior Management Accountability: Specific responsibilities must be assigned to senior managers to ensure accountability for conduct and competence.
• Operational Resilience: Financial Consulting firms should ensure the resilience of critical business services, planning for continuity amidst disruptions.
• Technology Risk Management: Financial advice providers must manage technology risks, especially those engaged in electronic trading or reliant on sophisticated IT systems, covering cybersecurity and system reliability requirements.
• Conflict of Interest Management: Financial advisory businesses are expected to have robust processes in place to identify, manage, and mitigate conflicts of interest to ensure that clients' best interests are always prioritised.
• Robo-Advice Oversight: Financial consulting firms offering robo-advice services must implement stringent controls to ensure the accuracy, transparency, and fairness of algorithm-based recommendations. They should also maintain oversight of the automated advice process to ensure it aligns with regulatory standards.

 

Market Integrity and Transparency Controls

• Market Conduct Standards: Financial consulting firms must ensure market conduct is fair, transparent, and free from abuse, including manipulation or insider trading.
• Conduct and Disclosure Standards: Financial consulting firms should maintain high standards of conduct and ensure that disclosures to their clients are clear, accurate, and effective.
• Service Provision Standards: Financial advisory businesses are expected to provide services efficiently, honestly, and fairly.
• Dispute Resolution: Financial advisory businesses should have mechanisms for resolving client disputes and ensuring client compensation, especially for retail clients.
• Client Communication and Reporting: Financial Consulting Firms must establish and maintain robust mechanisms for regular, clear, and effective communication with clients regarding their investment portfolios, the advisory process, and any significant market or economic developments that could impact their financial interests. This ensures that client relationships are built on a foundation of transparency, trust, and informed decision-making.

 

Resource Management Controls

• Resource Adequacy: Financial advisory businesses are expected to maintain adequate financial, technological, and human resources to comply with regulations and serve clients effectively.
• Professional Competence: Financial consulting firms must ensure key personnel possess the necessary competence, knowledge, and skills to provide suitable advice. This requirement usually means that people with approved qualifications can receive professional licences, which enhances the overall quality of financial advice provided to clients, particularly when investment advice is involved.
• Continuing Education and Professional Development: Financial advice providers should ensure that their staff engages in ongoing professional development activities, including continuing education programs, to stay abreast of regulatory changes, industry best practices, and evolving market trends. This commitment supports advisers in maintaining their professional licences for giving financial advice and ensures compliance with professional standards for financial advisers.

 

Reporting Controls

• Transaction Reporting: Financial consulting firms typically do not engage in market transactions on clients' behalf. Also, not all licensed financial advisers and other businesses that give advice are subject to AML/CFT laws and regulations. This depends on the business model. However, there could be transaction reporting requirements under the general financial marketing laws, financial advisers' licensing regimes, and AML/CFT laws (SMR, SARs, and STRs).
• Regulatory Reporting: Financial advice providers must submit regular reports to the relevant regulatory authorities detailing financial status, training and competence, client interactions and advice given (under some circumstances), complaints received and dispute resolutions, compliance status, etc.
• Record-Keeping: Financial advisers are expected to maintain accurate records of all client interactions, transactions, and financial matters for transparency and accountability under various laws and regulations, including AML/CFT, tax, and financial advisory regulations.

 

Service Management Controls

• Fair Dealing Principles: Financial advisers must adhere to principles ensuring fair treatment of clients, with clear communication and transparent dealings.
• Consumer Protection: Financial advisers should protect client interests and ensure fair treatment.
• Data Privacy: Financial advisers must comply with data privacy regulations to protect client information.
• Cybersecurity: Financial advice providers must implement robust cybersecurity measures to safeguard client data and financial information.

 

Transactional Controls

• Account Disbursement Controls: Financial advisers must implement controls to ensure that client funds are disbursed according to authorised instructions, verify client identities, and ensure proper approvals.
• Personal Account Monitoring: Financial advisers managing client assets in discretionary accounts should monitor personal trading activity to mitigate conflicts of interest and ensure they do not take advantage of their clients.
• Electronic Trading Risk Requirements: Financial advice providers offering electronic trading services should implement controls around electronic trading risks to ensure security and compliance.

 

Financial Advisers’ Licensing Solutions

• Financial Licensing Application Support: We provide comprehensive support for a wide range of financial advisers' licensing applications, including:

• Australian Financial Services Licence (AFSL) for Financial Advisers: We assist financial advisers in navigating the application process for obtaining an AFSL from ASIC, in line with the Corporations Act 2001 and ASIC’s Regulatory Guides.
• New Zealand Financial Advice Provider (FAP) Licence: We guide financial advisers through the application process for providing regulated financial advice under a FAP licence issued by the Financial Markets Authority (FMA) under the Financial Markets Conduct Act 2013.
• UK Financial Conduct Authority (FCA) Permissions for Financial Advisers: We provide support for securing FCA authorisation under the Financial Services and Markets Act 2000 (FSMA) and meeting conduct requirements, including those introduced under the Retail Distribution Review (RDR).
• SEC Registration and State-Level Regulation in the United States: We assist financial advisers with SEC registration under the Investment Advisers Act of 1940 for those with regulatory assets under management of US$110 million or more, and with meeting applicable state-level investment adviser registration requirements for those below this threshold.
• Singapore Financial Adviser Licence under the Financial Advisers Act (FAA): We support firms in obtaining a financial adviser’s licence from the Monetary Authority of Singapore (MAS) in accordance with the Financial Advisers Act 2001 (FAA).
• MiFID II Compliance for the European Union: We provide guidance for meeting conduct, disclosure, and client protection obligations under MiFID II as implemented by the relevant national competent authority in each EU member state.

• International Governance Alignment: We offer advice on aligning governance frameworks for financial advisers operating in multiple jurisdictions to meet applicable regulatory obligations while maintaining operational efficiency.

 

 

Policies and Procedures for Financial Advisers’ Compliance Management

• Compliance Policies and Core Documents: We develop, enhance, and implement a set of core policies, manuals, frameworks, and procedures for effective financial advisers' compliance management.
• Effective Procedures for Financial Advisers Compliance Management: We draft and enhance a detailed set of procedures and protocols to meet the distinct needs of your business, focusing on efficient compliance, your business goals, and applicable financial advisers' compliance requirements.
• Examples: These policies and procedures include, but are not limited to:

 

Operational Compliance

• Compliance Management Frameworks
• Compliance Monitoring Programs
• Compliance Calendars and Checklists
• Complaints Handling and Dispute Resolution Policies
• Compliance Training Manuals and Programs, as part of our regulatory compliance training solutions
• Obligation Registers
• Incident Reporting Policies and Procedures
• Outsourcing Policies and Vendor Risk Management policies as part of our outsourced provider's compliance management solutions
• New Client Account Opening Policies and Procedures, as part of our customer onboarding solutions

 

Governance and Oversight

• Board Charters, Risk, Audit and Compliance Committee Charters, as part of our corporate governance solutions
• Codes of Conduct
• Delegations Registers
• HR Manuals and Policies
• ESG Compliance Policies
• Conflict of Interest Policies

 

Risk Management

• Risk Management Frameworks as part of our risk management solutions
• Risk Assessment Guidelines and Methodologies
• Internal Control Testing Methodologies
• Risk Registers and specialised risk registers like Health and Safety Risk Registers
• Cybersecurity Risk Management Policies

 

Audit and Assurance

• Compliance Assurance Programs as part of our compliance assurance solutions
• Internal Audit Policies and Programs as part of our internal control testing solutions
• Regulatory Reporting Procedures

 

Client and Market Conduct

• Marketing and Advertising Policies
• Client Communication Policy
• Robo-Advice Client Communication Policy (if applicable)

 

AML/CFT and Financial Crime Compliance

• AML/CFT Compliance Programs
• AML/CFT Risk Assessment
• Whistleblowing Policies
• Sanctions Compliance policies and procedures
• Fraud Prevention Protocols and Controls as part of our fraud prevention solutions
• ABC Policies

 

Privacy and Data Management

• Client Data Protection Policies
• Record-keeping Policies and Procedures and/or Data Governance Policies as part of our record-keeping compliance solution
• External Privacy Policies
• Internal Data Protection Compliance Programs

 

 

Compliance Training and Capacity Building

We focus on practical compliance and the application of training to real-world compliance scenarios and challenges that financial advisers generally face. Our services include:

• Customised Compliance Training Solutions:  Specialised compliance training sessions for various teams, including management, compliance, operations, sales, and customer relations, focusing on financial advisers' regulations, applying financial advisers' compliance management practices to your circumstances, risk awareness, and more.
• Up-to-date Regulatory Compliance Updates:  Keeping compliance officers, managers, CROs, COOs, and other Risk and Compliance team members informed of changes in financial advisers' licensing requirements and regulations, AML/CFT updates, and changes in regulatory guidance.
• Data Analysis for Effective Compliance Monitoring: Covering training on compliance-related, data-based analysis and its results, including risk rating, internal control adjustments, resource and focus reallocation, and more.
• Workshops on Emerging AML Trends and Red Flags: Updating on the new AML trends, red flags, typologies, and AML/CFT requirements for financial advisers. For more information, please visit our AML/CFT Training Solutions page.
• Practical Workshops: Interactive workshops focused on effective and goal-oriented financial advisers' compliance, capacity planning, and resource allocation, covering:

• Financial advisers' regulations
• Internal and external compliance reporting
• Effective governance over risk and compliance functions
• Organisation-wide risk assessment, risk rating methodologies and the development, management, and testing of corresponding internal controls, including controls testing methodologies and practical techniques.
• Financial advisers' compliance reality, including outsourced provider monitoring, UAV management, incident management, product suitability assessments, advertising and marketing compliance, improvements in the client onboarding journey, transaction monitoring processes, and more.

• Further information: You can visit our Compliance Training Solutions page for more information on the compliance training services we offer to licensed financial institutions and financial service providers.

 

Financial Advisers and AML/CTF Compliance

We offer a complete set of solutions covering financial advisers' anti-money laundering (AML), financial crime and counter-terrorism financing (CTF) compliance. Our solutions include:

• Customer due diligence, screening, and customer onboarding solutions
• Development of transaction monitoring frameworks tailored to financial advisers' specific ML/TF red flags and your business specifications
• AML advisory covering financial advice providers' compliance issues and challenges
• Drafting, testing, and updating AML policies and procedures
• AML training and capacity building
• Managed AML compliance solutions for financial advice providers
• Internal and statutory AML/CFT audit solutions for financial advisers
• Financial crime prevention framework development focusing on common fraud risks faced by financial advisers.
• For more information, please visit our specialised AML Compliance Solutions page for Financial Advisers.

 

Financial Advisers’ Compliance Technology Integration

Our services cover compliance aspects concerning the integration of technology for risk and compliance e-management, transactional reporting (where applicable), usage of AI, technology outsourcing, and compliance aspects of third-party risk management for financial advisers, including:

• Needs Assessment
• Compliance Technology Selection: Based on your budget, products, available operational and technical resources, and the applicable financial advisers' compliance obligations
• Implementation assistance across the organisation
• Streamlining operational workflows: For routine compliance tasks like data collection, reporting, and risk assessments
• AML/CFT Compliance Technology: Covering customer digital onboarding, E-KYC, PEP and sanctions screening, transaction monitoring, etc.
• Integration of financial advisers' compliance obligations into an effective CRM system
• Record-Keeping Obligations: Helping you choose and integrate the necessary tools to comply with the record-keeping requirements under various laws and financial advisers' regulations

 

Data Management and Information Privacy Solutions

• Data Governance and Compliance:  Assisting financial advisers in establishing robust data governance procedures, programs, and protocols that align data collection, storage, and usage practices with relevant data privacy regulations, such as GDPR, CCPA, and other applicable laws. These measures safeguard sensitive client and business information from unauthorised access, breaches, and misuse.
• Privacy Policy Compliance Monitoring: Helping you implement privacy policies that reflect the latest data protection legislation, supported by continuous compliance monitoring tools to maintain the highest data privacy standards.
• Record Maintenance Protocols:  We assist in developing and implementing effective procedures for maintaining necessary records, covering financial advisers' compliance with applicable regulatory reporting standards and reporting requirements.
• Record Availability and Inspection Readiness:  Financial advisers' regulations often require records to be readily available for inspection by regulators, AML/CFT supervisors, tax agencies, and other relevant authorities. This extends to information kept by your outsourced service providers. We help you organise your record-keeping processes to meet these needs.

 

ISO Standards and Financial Advisers’ Compliance

• Cross-Reference Mapping: Integrating ISO standards such as ISO 27001, ISO 9001, and ISO 22301 into an existing compliance framework and linking specific sections of ISO standards to corresponding procedures in your internal policies and procedures.
• Pre-Audit Preparation: Coordinating ISO controls testing across different parts of the business.
• Leading evidence collection across the different departments to cover relevant compliance areas such as planning, governance, organisational controls, operational controls, technological controls, and physical controls through structured workflows.
• Digital Compliance Repository: Helping you utilise a centralised digital repository for storing all compliance-related documents and evidence, making it easily accessible for audit purposes and compliance verification.
• ISO Audit Liaison:  Acting as a liaison between your team and the auditors, coordinating information requests, and ensuring all the necessary documentation is readily available.
• Post-Audit Remediation Management: We can lead the implementation of your remediation plan and support corrective actions to address all audit findings effectively.

 

Regulatory Change Management Solutions

Empower Your Business with Proactive Regulatory Change Management:

• Stay Ahead of the Curve:  We actively monitor regulatory updates from global financial authorities like MAS, ASIC, FMA, FCA, SEC, and other regulators for financial advisers' compliance changes and updates to evaluate the implications of regulatory changes.
• Impact Assessment and Mitigation Strategies: We analyse the potential impact of regulatory changes on financial advisers' compliance management frameworks and operational processes. We then collaborate with you to develop effective mitigation strategies that support continued compliance and minimise disruption.
• Seamless Implementation and Change Management:  We guide financial advisers through necessary process adjustments, update internal policies and procedures, facilitate a smooth transition through regulatory changes, and assist with effective communication with impacted stakeholders.