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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Orbium, a global financial services management and technology consulting firm

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Regulatory Compliance Advisory

Orbium helps clients become fully compliant and achieve both customer investment goals and their own strategic business objectives. To supplement our functional expertise, we draw on a network of regtech partners to ensure we always provide the most appropriate and innovative solutions.

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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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