Compliance was once seen as the ‘business prevention unit’, however here at Aspida from our very origins we have seen compliance as a business enabler and our practical and pragmatic tagline has become even more prevalent in recent years.
Whilst the Malta Financial Services Authority in Malta advocates that “RegTech solutions improve regulatory processes with the aim of helping authorised entities to comply with greater certainty and more efficiently to regulatory and supervisory requirements. .”, at Aspida we see utilising RegTech as wider to provide substantially more benefits to businesses.
Whilst the Financial Conduct Authority in the UK states that “RegTech applies to new technologies developed to help overcome regulatory challenges in financial services”, at Aspida we see utilising RegTech as wider to provide substantially more benefits to businesses.
It is obvious to most that knowing your stakeholders is key to success, but how many regulated financial services businesses consider a key external stakeholder to be regulators?
At first it was Health & Safety officers that were tagged the “business prevention team” then it was Compliance Officers. However, today it seems to be the corporate Governance team that has inherited that particularly unwelcome moniker.
Aspida’s Doug MacKay takes you through the practical steps that can be taken to ensure you comply with the economic substance rules, without relying on any Covid exemptions on travel restrictions.