research & insights from Orbium

Turning the suitability challenge into an opportunity for growth

By Adam D. Wisniewski, Senior Manager, Management Consulting Services

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Regulation is now a constant challenge for banks, requiring increased resources and adding to overheads. Often regulation varies per region and requires constant monitoring. We understand the impact of such continuous change and have the experience and frameworks in place to address it. Action may include the review and updating of...

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by Orbium
| 14/03/2018 15:24:06

Increasing compliance budgets in times of margin pressure

New suitability rules imposed on wealth managers globally are creating a multitude of challenges for the industry. Principal among these are the investor protection regulations: MiFID II and PRIIPs, also making their way to the Swiss market as FIDLEG in 2019.

A critical element of these new regulations is that they expose market participants to legal risks from their clients. This leaves little room as to the level of compliance to be achieved, adding to the necessity of a faultless implementation. Given the complexity of these regulations, it is not surprising that a recent survey conducted by Orbium reveals that a majority of wealth management C-Level executives expect an increase of their regulatory and compliance budgets in the coming years, despite significant cost/income and margin pressures.

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