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Regulation Revisited

其他書名	Switzerland's Revised Regulatory Framework for Financial Intermediaries Takes Shape
出版	SSRN, 2018
URL	http://books.google.com.hk/books?id=cnL6zgEACAAJ&hl=&source=gbs_api

註釋Regulation is no longer an isolated discipline - in recent years it has become a key strategic factor for financial intermediaries competing in an increasingly globalised and interconnected world marked by exchange of information and international cooperation. Applied regulation means increased transparency, which leads to the enforceability of compliance through regulators as well as clients and investors. It therefore triggers not only a need for the structuring of behaviour regarding processes, governance, documentation and training, but also for applying suitable tools and building-up awareness and multidisciplinary know-how throughout the entire organisation of financial intermediaries. Continued convergence of the tax and regulatory worlds, coupled with the conceptually different regimes applied in different parts of the world, multiplies the complexity of the matter and significantly raises the bar for financial intermediaries operating in more than one jurisdiction and serving clients domiciled in various locations, this is due to the progressive shift towards rule application based on client domicile rather than intermediary location. In light of this, regulation must be understood and treated as top management responsibility. The regulatory process needs to be viewed holistically and treated as an interdisciplinary effort that links legal with business aspects in order to ensure across-the-board compliance: from the interpretation of rules, to product and service structuring, to the adviser's delivery and behaviour on the client front.