Click here download the Financial services compliance 2019 report, published by Getting the Deal Through.

Jurisdictions covered

The following 13 jurisdictions are covered in this report:

Australia ; Brazil; Canada; Germany; Hong Kong; Italy; Japan; Portugal; Singapore; Spain; Switzerland; United Kingdom; United States

Questions

The set of questions relating to the topic of anti-money laundering and answered by the guide for each jurisdiction covered include:

• • What national authorities regulate the provision of financial products and services?
• • What activities does each national financial services authority regulate?
• • What products does each national financial services authority regulate?
• • What is the registration or authorization regime applicable to financial services firms and authorized individuals associated necessary, and how is it affected?
• • What statue or other legal basis is the source of each regulatory authority’s jurisdiction?
• • what principal laws and financial services authority rules apply to the activities of financial services firms and their associated persons?
• • What additional requirements apply to financial services firms and authorized persons, such as those imposed by self-regulatory bodies, designated professional bodies or other financial services organisations?
• • What powers do national financial services firms and authorized persons, such as those imposed by self-regulatory bodies, designated professional bodies or other financial services organisations?
• • What powers do national financial services authorities have to examine and investigate compliance? What enforcement powers do they have for compliance breaches? How is compliance examined and enforced in practice?
• • What are the power of national financial services authorities to discipline or punish infractions?
• • Which other bodies are responsible for criminal enforcement relating to compliance violations?
• • What tribunals adjudicate criminal and civil financial services infractions?
• • What are typical sanctions imposed against firms and individuals for violations? Are settlements common?
• • What requirements exist concerning the nature and content of compliance and supervisory programmes for each type of regulated entity?
• • How important are gatekeepers in the regulatory structure?
• • What are the duties of directors, and what standard of care applies to the boards of directors of financial services firms?
• • When are directors typically held individually accountable for the activities of financial services firms?
• • Do private rights of action apply to violations of national financial services authority rules and regulations?
• • What is the standard of care that applies to each type of financial services firm and authorized personal when dealing what retail customers?
• • Does the standard of care differ based on the sophistication of the customer or counterparty?
• • How are rules that affect the financial services industry adopted? Is there a consultation process?
• • How do financial services authorities approach cross-border issues?
• • What role does international standard setting play in the rules and standards implemented in your jurisdiction?