Regulation in Banking and Insurance Industries
Sia Partners' Compliance Booklet for Asia: Regulation in Banking and Insurance Industries
IFRS9, Recovery and Resolution Planning, GDPR, Financial Crime, Conduct Risk, Cybersecurity, Open API, among many more … Regulations of both banking and insurance industries have significantly evolved over the past ten years. The entire value chain is affected, from product design to distribution, from corporate management to assessment of own funds, and from anti-fraud measures to the protection of personal data. Broadly speaking, an overall strengthening of customer protection can be observed across the globe, impacting the regulations and compliance needs in the Americas, Europe and Asia. This is coupled with an alignment of the insurance industry regulations with those of the banking industry.
At Sia Partners, we believe that financial institutions have incentives to anticipate operational impacts of regulations and make - as upstream as possible - decisions that will enable them be properly prepared. With this Compliance booklet, our Asia, US and Europe teams have joined forces to provide you with factsheets describing the substance and impact of the main - from our perspective - current or pending regulations in both the banking and the insurance industries. We hope you find this useful and helpful in managing your regulatory expectations and preparedness
You will find an extract of our analysis here. Don't hesitate to contact us to receive your complete hard copy: