The finance sector, comprising of fund and investment business, trust and company business, insurance and banking is heavily regulated through a mixture of local law and regulation and international guidance and treaties. Failure to observe your obligations in relation to the regulatory environment could, in extreme cases, result in your business losing its licence to trade, your imprisonment and your jurisdiction’s loss of good reputation.
Finance sector compliance is often misconceived as relating solely to financial regulation. In fact, financial regulation should make up only one part of the firm’s compliance function. Those responsible for a firm’s compliance functions should ensure that all areas of compliance and risk management are addressed. This would include such matters as ensuring that contracts are up-to-date and valid, all business licensing requirements are currently satisfied, new legislation (not just financial services legislation) has been considered and, where relevant, has been implemented, and the business is taking every reasonable effort to mitigate all legal and regulatory risk.
As a financial services business, the regime in which you operate is complex and, to the uninitiated, is likely to be daunting. This is where we can help.
Comsure can assist you in identifying, assessing and mitigating all of you legal and regulatory risks. If you would like to discuss these further, please do get in touch to arrange a free consultation.