It is undeniable that performing compliance responsibilities is demanding. It was demanding prior to the pandemic and has become even more so in light of the current global environment. Regulators and business leaders acknowledge that high standards are required of the compliance function, from reporting, risk mitigation, advisory to the advocacy of promoting compliance culture against the backdrop of increasingly complex product innovations, misconduct and a digitally sophisticated but disruptive environment.
In the first roundtable of the Compliance Professional Series Part 3 capstone programme `Roundtable on Compliance 2021’ – we listened to how the different parties in the capital market ecosystem, from the regulators to intermediaries, have reacted to ensure the maintenance of a fair, efficient and transparent market while mitigating systemic risks, amid the challenging economic environment and volatile market conditions. The focus areas include continued market digitalisation and prioritising the strengthening of corporate governance and compliance culture in the capital market to uphold standards of governance and accountability. As the regulatory authorities heightened market oversight and engagements, market participants were required to maintain operational resilience and continuity with an eye on cyber security risks and take the opportunity to ensure digital transformation.
All this culminates in the need for the roundtable to determine strategies to accelerate upskilling of capital market employees, including in matters of compliance, and deliberate on how the new normal provides the industry with the opportunity to reshape the future of compliance.
This inaugural roundtable provides a platform for the distinguished panellists to discuss the regulatory landscape as a result of the pandemic, the measures taken to ensure market continuity and resilience, and the market participants responses. The roundtable will further the discourse to examine the responses that worked and what could have been executed better with the hindsight that focuses on the drivers of sustainability i.e., accelerated digital transformation and development of new skillsets. In recognising that the new normal will be the new business as usual, the roundtable seeks to determine insights and best practices to reset and reshape compliance and the capital market for the future.
ROUNDTABLE ON COMPLIANCE 2021 – KEY TAKEAWAYS
We are grateful to all our partners, speakers and attendees for the successful and fruitful Roundtable on Compliance 2021!
Click on the button to view and download the key takeaways of the roundtable’s panel sessions.