https://www.scmp.com/rss/326117/feed Compliance en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Politicians usually try to kick tricky problems into the long grass by having a commission of inquiry or a public consultation that we all know is intended to bury the issue until the next one comes along. Having just been to Australia, I have been following the quaintly named royal commission on the behaviour of banks. Prime Minister Malcolm Turnbull fought hard against it – a royal commission is much harder to kick. Banking is a naturally adversarial practice and conflicts of interest abound,... https://www.scmp.com/comment/insight-opinion/article/2148568/australia-and-uk-show-banker-bashing-all-well-and-good?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2148568/australia-and-uk-show-banker-bashing-all-well-and-good?utm_source=rss_feed Thu, 31 May 2018 05:00:00 +0000 Faced with the growing threat of industry shocks such as cyber fraud, cryptocurrency, quantum computing and open banking, the time for compliance departments to act is now. They must embrace innovation just like other parts of the business are doing. As financial institutions navigate digital threats and an evolving regulatory landscape, management teams need to allocate funding and time to developing new operating models, bringing in new tools and technologies and equipping staff with new... https://www.scmp.com/business/article/2139587/banks-must-beef-compliance-technology-survive-era-digital-threats?utm_source=rss_feed https://www.scmp.com/business/article/2139587/banks-must-beef-compliance-technology-survive-era-digital-threats?utm_source=rss_feed Fri, 30 Mar 2018 01:57:57 +0000 Hong Kong employers may have a task on their hands. Their highly skilled anti-money-laundering and compliance professionals may not be able to resist the temptation of better pay and perks in China. According to British recruitment agency Hays, the wage gap for mid- to senior-level managers between Shanghai and Hong Kong is closing. But some of the cash-rich Chinese companies are offering salaries much higher than Hong Kong employers to secure much-needed talent and fill key... https://www.scmp.com/business/companies/article/2129902/hong-kong-employers-face-competition-china-retain-compliance?utm_source=rss_feed https://www.scmp.com/business/companies/article/2129902/hong-kong-employers-face-competition-china-retain-compliance?utm_source=rss_feed Mon, 22 Jan 2018 04:32:51 +0000 Ten years after the global financial crisis, the sanctions and convictions – or lack thereof – against those responsible still seem outrageous to the general public. You will have been disappointed if you were seeking social justice, outraged to see that opportunity exists after some financial organisations have been exonerated. In December, HSBC announced it was being released by the US Department of Justice from a 2012 deferred prosecution agreement (DPA) that allows it to avoid criminal... https://www.scmp.com/business/companies/article/2127823/its-time-regulators-started-clawing-back-illicit-returns?utm_source=rss_feed https://www.scmp.com/business/companies/article/2127823/its-time-regulators-started-clawing-back-illicit-returns?utm_source=rss_feed Thu, 11 Jan 2018 08:37:45 +0000 China’s top insurance watchdog has named five private equity (PE) firms for failing to file an annual report outlining the exact details of their investment activities involving insurance-generated capital. The China Insurance Regulatory Commission (CIRC) said on its website on Tuesday Qianhai Ark Assets Management, Shanghai Dingying Investment Management, CRI, Cindafund Investment, and PICC Yuanwang had weak compliance awareness and problematic internal management, and were ordered to rectify... https://www.scmp.com/business/companies/article/2125698/five-private-equity-firms-exposed-chinas-insurance-watchdog?utm_source=rss_feed https://www.scmp.com/business/companies/article/2125698/five-private-equity-firms-exposed-chinas-insurance-watchdog?utm_source=rss_feed Tue, 26 Dec 2017 08:37:48 +0000