Compliance, Regulations and the Regulatory Environment

Singapore financial services licensing regime

Role of MAS

MAS supervisory toolkit - CRAFT framework, enforcement actions and exercise of its supervisory powers

Key regulations (various Acts, Notices, Directives)

Various MAS industry papers and emerging regulatory trends

The 3 lines of defence and basic tenets of sound control environment

Key appointment holders, licensed representatives and applicable regulatory requirements - CEO appointment, fit and proper criteria, misconduct filing, CPD requirements

Banking secrecy

Client data and outsourcing

Compliance concerns in use of data and machine learning

Sales and advisory practices

Fostering a sound conduct culture

Demonstrate an understanding and appreciation of the financial services licensing regime, regulatory landscape and regulatory approach in Singapore.

Assess the main principles of key banking regulations and analyse how different regulatory requirements apply in different situations.

Analyse compliance-related issues and evaluate the applicability of regulations.

Formulate practical and feasible solution/advice that reflect an appropriate application of regulatory requirements, and balance with business needs.

Assess existing regulatory trends or emerging regulatory issues, and its impact to compliance work.

Formulate a compliance response towards establishing sound conduct and culture in a financial institution.