Establishing an effective compliance function for financial intuitions in Hong Kong

In an environment where regulatory scrutiny and expectations from the Hong Kong regulators such as the Hong Kong Monetary Authority and the Securities and Futures Commission are growing, more financial institutions are devoting substantial resources into strengthening their compliance function.

Under the second line of defence role within the corporate governance structure of a financial institution, a strong and independent compliance function should be able to ensure that it operates with integrity and adhere to applicable laws, regulations and internal policies, as well as mitigate risks related to misconduct, money laundering and other forms of non-compliance.

This publication outlines the key elements for establishing an effective compliance function within a financial institution and how our service financial advisory offerings can assist you in achieving this important goal.