Thomson Reuters, the world’s leading source ofintelligent information for businesses and professionals, today announced thatthe 5th Pan-Asian Regulatory Summit will take place in Hong Kong on 29- 30 October, 2014.
The Pan-Asian RegulatorySummit provides a forum for regional and global regulatory bodies and policymakers within the financial services industry across the Asia-Pacific region todiscuss key regulatory issues. More than 500 senior business leaders from local andinternational banks, financial institutions, authorities, associations, local,regional and international regulatory bodies are expected to attend the Summit.
Regulatory bodies and banks representedat the event include the Hong Kong Securities & Futures Commission (HKSFC),Hong Kong Monetary Authority (HKMA), People’s Bank of China, InternationalOrganization of Securities Commissions (IOSCO), Financial Conduct Authority andPrudential Regulatory Authority (PRA) from the UK, Bank of England, AustralianSecurities and Investments Commission (ASIC), Securities & ExchangeCommission of Thailand, Bank of Korea, amongst others.
John Tsang, FinancialSecretary of the Hong Kong SAR Government, Ashley Alder, CEO of HKSFC and MarkSteward, Executive Director of enforcement from the HK SFC will deliver keynotespeeches, while David Wright, the Secretary General of IOSCO will provide theclosing remarks.
Sanjeev Chatrath, managing director,Asia Pacific, Financial & Risk, Thomson Reuters, said, “As the globalregulatory landscape continues to evolve, Asia-based regulators are looking foropportunities to work more closely together to present a more unified voice. Asan example of this, the Shanghai-Hong Kong Stock Connect scheme that will be oneof the Summit’s most topical discussions will strengthen links betweensecurities regulators and exchanges in Hong Kong and China.”
The two-day program will explore keythemes such as regulatory risk management across Asia, anti money laundering, personaldata protection and cyber threats to financial institutions, closer cooperationand financial integration between mainland China and Hong Kong, OTC derivativesreform implementation including Basel III capital and liquidity reforms, andregulatory focus on electronic trading platforms, dark pools, high frequencytrading and MiFID II.
Companies and organisations supporting thisyear include Allen & Overy, Barclays, Citi, Microsoft, CompliancePlusConsulting, Compliance Recruitment Solutions, CFA Institute, Robert Walters,ASIFMA, PricewaterhouseCoopers as well as Liberty Asia, a NGO that combatshuman trafficking in the region.
According to Thomson Reuters Annual Costof Compliance Survey, more than half compliance officers expect personalliability to increase in 2014. Thomson Reuters surveyed more than 600compliance practitioners from financial services firms including banks,brokers, insurers and asset managers across 71 countries covering Africa, theAmericas, Asia, Australia, Europe and the Middle East. It builds on annualsurveys of similar respondents conducted over the course of the last fiveyears, offering year-on-year trends and developments. Key findings from thelatest report include:
- 66 percent of respondents expect the cost of senior complianceprofessionals to increase in 2014.
- 75 percent of respondents expect an increase in theamount of information published by regulators.
- 26percent of compliance teams spent less than an hour a week amending reports forthe board, a similar finding as last year’s survey
- Compliance functions report spending very littletime liaising with the internal audit function finding which continues to causeof concern.
- The number of compliance teams spending more than 10hours a week tracking and analyzing regulatory developments nearly doubled inboth the U.S. (13 percent in 2013 and 25 percent in 2014) and the Middle East(8 percent in 2013 and 18 percent in 2014).
For more information, please visit thesummit's website at:
http://info.accelus.thomsonreuters.com/5th-pan-asian-regulatory-summit