The Compliance Function, Firms can Demonstrate Their Awareness and Compliance with New and Emerging Requirements: Regulatory Compliance Essay , UoM, Singapore

Assignment Brief:

It is important that, via the compliance function, firms can demonstrate their awareness and compliance with new and emerging requirements.

An example would be the January 2020 MAS revision to the Guidelines on Fit and Proper Criteria. Your compliance director is to give a presentation to the board on how the firm has reacted to this update. You have been asked to prepare a report that will help the compliance director to give this presentation. Specifically, you have been asked to produce a note that:

a. provides an analysis of the relevant compliance requirements

b. interprets the relevant provisions to enable the board to clearly understand the requirements

c. identify any common compliance vulnerabilities and risks and how they have been monitored and addressed, using a risk-based approach

d. outlines the risks of any breaches of the requirements.