Regulatory Compliance

Corruption takes many forms. To protect their investments, companies must promote ethical business practices throughout their operations. Their compliance programmes should consider local laws as well as regulations like the US FCPA and the UK Bribery Act. Our professionals help our clients understand and respond to anti-corruption compliance in all its phases including investigation of alleged acts of corruption as well as design, implement, evaluate and monitor anti-corruption programmes.
 

Conduct and Governance

Firm culture and corporate social responsibility are being subjected to increasing scrutiny as instances of unethical, and sometimes illegal, conduct highlight serious gaps in practices and damage trust that is demanded of financial service firms.  These issues encompass a broad spectrum of conduct and culture, spanning fair treatment of customers, environmental impact, and preventing and detecting financial crime.  Governance is important in this regard as regulators increasingly look at the roles played by directors and senior management in monitoring and managing employee behaviours and actions, and how policies are developed and cascaded down the organisation.

Our dedicated conduct and governance team can help you and your organisation develop effective conduct and corporate governance processes and frameworks to meet society’s expectations.

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Risk and prudential

Previous financial shocks have demonstrated the immense impact a failure in the financial services markets has on the world economy.  Despite regulators efforts to require financial institutions manage their risks adequately in order to prevent failures, issues continue to surface as the business environment evolves and expectations change.  Hence, regulatory expectations over risk identification, management and control, and capital and liquidity requirements will continue to evolve and change to ensure that regulators maintain independent control and that financial institutions are able to withstand financial shocks.  Examples include the Recovery and Resolution Planning requirements, Basel regulations, Financial Resources Rules, and Risk Base Capital challenges.

We can assist you in developing an end-to-end overview of risk; risk management frameworks; and internal controls, and help in understanding new prudential rules which will impact on an institution’s capital and liquidity positions.

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Licensing and restructuring

As a prominent international financial centre, Hong Kong provides extensive access to international markets and has a business environment that encourages growth – facilitated by its robust regulation and simple tax regime.  Access to this market thus requires standards commensurate with Hong Kong’s reputation as an international finance centre to be met before relevant authorisations are granted.

We can help you navigate the complexities of applying for licenses to undertake financial activities with the main financial regulators in Hong Kong – the HKMA, SFC, and HKEx.  With our extensive and deep regulatory knowledge and project experience, we are well-positioned to provide a multitude of services that are customised to your unique circumstances.  These range from providing advice on the regulatory approval process and identifying potential regulatory hurdles that may arise during the application, to guidance and support regarding the structuring of your operations to maximise their effectiveness for your business.

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Services we offer

  • conducting independent compliance risk assessments and gap analyses
  • making practical recommendations to improve your policies and procedures for addressing compliance risks
  • designing and helping to implement anti-corruption compliance programmes
  • designing and delivering training programmes for your company’s employees and senior management
  • conducting compliance investigations
  • performing regular assessments of your company’s compliance function

Contact us

Kirk Williams

Partner, Advisory Leader for PwC Eurasia, PwC Kazakhstan

Tel: +7 727 330 3200

Roger Stanley

PwC Eurasia Forensic Services Leader, PwC Kazakhstan

Tel: +7 727 330 3200

Almira Kuzutbayeva

Senior Manager, Forensic Team Leader, PwC Kazakhstan

Tel: +7 7172 55 07 07

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