Financial Services Regulatory Compliance

Financial Services Regulatory Compliance

Supports financial institutions in delivering practical and cost-effective approaches to meet compliance demands.

Supports financial institutions in delivering practical and cost-effective approaches.

As pressure on financial institutions to comply with the evolving and challenging regulatory landscape continues to escalate, scrutiny from multiple stakeholders including regulators and investors intensifies in a post-crisis environment where compliance demands are now far more intensive. With new rules being introduced and existing ones tightened, financial institutions are faced with a host of challenges in keeping abreast of these changes, and managing regulatory and compliance risks.

Financial institutions will now require more process and system enhancements, and technology solutions to assist and support them in putting in place an effective and dynamic compliance framework that is responsive to market and regulatory developments.


How we can help

Our dedicated regulatory compliance team comprises ex-regulators and professionals with extensive experience in advising and working with financial institutions. Leveraging on our insightful knowledge and deep understanding of the regulatory requirements and expectations within the financial services industry, we will be able to assist you in delivering practical and cost-effective approaches to meet compliance demands.

We recognize that every financial institution is unique in the challenges and issues it faces. We provide customized services which best suit your financial institution's needs.

Our core services include:

  • Licensing related services
  • Compliance related services

Our services extend to various financial institutions including banks and capital markets services license holders such as fund managers, REIT managers, brokers and securities companies.


Success Stories

  • KPMG member firms are market leaders in the audit of banks in key financial centers globally.
  • KPMG is a leader in the audit of financial institutions in Singapore.
  • KPMG Singapore partners have been conducting seminars on Banking Laws and Regulations over the past 30 years.
  • KPMG in Singapore has worked with the local regulator, Monetary Authority of Singapore (MAS) on a number of projects, secondments and presentations.


Client needs How KPMG helped Outcomes

Application of Exempt status for regulated activities under the Securities and Futures Act (SFA).

Application of Capital Markets Services License (CMSL) for regulated activities under the SFA.

Application of Banking License.

Provided templates and list of documents required for the license application.

Reviewed and commented on draft and final application forms and supporting documents before submission to MAS.

Provided advice and commented on various information presented to the MAS.

Provided advice on key regulatory requirements and updates on new regulatory regime for fund management companies (FMC).

Liaised with MAS in relation to the application and submission.

Followed up on clients' queries pertaining to the applications.

Joint engagement with Tax Advisory Service to provide services in Tax and Regulatory advisory to enhance the clients' business models.

Identification of issues coupled with the feedback from selected personnel enabled the client to enhance the quality and delivery of the documentation and application process.

Pre-empted any potential issues and assisted the company in securing the exempt status or license in a shorter period.

Local Branch of a Global Bank
Assessment of the accuracy in the submission of various regulatory returns to MAS.Assessment of the accuracy and completeness of various regulatory returns submissions to MAS.

Performed walkthrough to understand the reporting process and ascertain whether effective controls are in place to identify any potential risk that data may fail to be reported or wrongly reported.

Assessed accuracy and completeness of the regulatory returns submitted to MAS by reviewing the means, methods of computations and relevant documents used to prepare the regulatory returns against the requirements prescribed by MAS.

Provided explanation on how data should be appropriately computed and reported in line with regulatory requirements and expectations.

Identified root causes of reporting inaccuracies and recommended solutions to address the root causes.

Identification of issues and recommendations provided enabled the client to enhance accuracy and completeness of the regulatory returns submissions.
Local Branch of an European Bank
Assessment of anti-money laundering/countering of financing of terrorism (AML/CFT) control environment for compliance with MAS Notice 626 and guidelines issued by the regulator.

Identified gaps and areas for improvement in the AML/CFT policies and procedures and provided recommended to enhance compliance with prescribed regulatory requirements.

Reviewed adequacy of processes and controls in place to manage and mitigate the AML/CFT risk exposures. Provided recommendations on gaps identified to meet regulatory requirements and expectations.

Shared industry best practices to further enhance AML/CFT processes.

Identification of issues and recommendations provided enabled the client to enhance the AML/CFT control environment to better manage its AML/CFT risks and address regulatory lapses and concerns in a timely manner.

Connect with us