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Compliance in Asian Wealth Management Forum 2020 - Highlights - Vincent Koo - EFG Bank

Vincent Koo of EFG Bank

Jan 24, 2020

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1. What are the opportunities and challenges for this industry in the year ahead?

Video transcript

1. What are the opportunities and challenges for this industry in the year ahead?

In terms of the challenges for the year ahead; we know about the UBS thing, we know that MAS is asking the industries to conduct some reviews, independent reviews on pricing, disclosure practices, etc. That's something that needs to be done. And obviously for banks which have not implemented relevant controls, that's going to come. So that is actually quite a big part of the work, especially on a suitability front. In terms of opportunity; honestly, I think it's really about digitisation. How can you actually help the bankers do things better? How can you use IT to improve your control environment? That's the bigger one that I would see in 2020. That would be my personal objective.

 

 
 

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