Emerging Regulatory Risk Adherence for a Global Financial Services Firm

  • Emerging Regulatory Risk Adherence for a Global Financial Services Firm

  • Vetting existing risks

  • Consolidating fragmented data

  • Ascertaining key subsequent actions


CLIENT CHALLENGES
  • The client had no centralized database of retail partners’ details and legal agreements
  • The regulation was fairly new and needed an expert understanding of the key deliverables
  • A negative media news on one of the firm’s partners originated from a jurisdiction known for strict data privacy laws
OUR APPROACH
  • A review was conducted for anti-tax evasion regulation to ascertain any other outliers
  • Engaged in scoping partners from the target jurisdiction and shortlisted key high risk players
  • Obtained gross flows for the partners to identify suspicious patterns
  • Conducted risk and google checks for regulatory sanctions and investigated tax related offences
  • Reviewed distribution agreements for contractual representations and warranties for any uplift requirements
IMPACT DELIVERED
  • Identified an instance of suspicious flow which resulted in relook at the partner’s account
  • Identified distribution agreements which required immediate contractual uplifts
  • Identified gaps in old agreements that were only ever updated with addendums
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What we have done

Forensic Compliance Support
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach

Best Execution Forensic review for an EMEA Asset Manager
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach