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Compliance in Asian Wealth Management Forum 2020 - Exclusive Insights - Tan Woon Hum - Shook Lin & Bok

Woon Hum Tan of Shook Lin & Bok

Jan 24, 2020

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1. Tax Havens vs International Financial Centre. Cayman vs Singapore – what are the new developments you must consider?

Video transcript

1. Tax Havens vs International Financial Centre. Cayman vs Singapore – what are the new developments you must consider?

I think the major challenges this year would be the uncertainty in the market, as well as the expectations of the organisations to meet targets. I think that indirectly will create pressure to increase revenue, increase work, increase fees. So when they push forward, I think what the professionals need to remember is that the compliance, the AML, the KYC, the CFC issues must still be complied with. The professional conduct, the accountability, the responsibility, and the professional advice, and he work that they do must still be up to standard, even though there's increased pressure and the uncertainties ahead for themselves and their investors. I think that translates to perhaps doing much more in a shorter time and trying to do much more in a smaller space.

 

 
 
 
 

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