Course Code: FIN571
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Synopsis

FIN571 Compliance, Regulations and the Regulatory Environment introduces students to the regulatory environment in Singapore, the role of the Monetary Authority of Singapore and its supervisory approach, key regulations applicable to most banking financial institutions as well as regulatory trends and emerging regulatory issues in the banking industry. Through a scenario-based learning approach, students will learn to identify compliance-related issues, analyse these issues and apply their knowledge in a practical manner to resolve the issue and/or advise stakeholders on possible solutions.
Level: 5
Credit Units: 5
Presentation Pattern: EVERY REGULAR SEMESTER

Topics

  • Singapore financial services licensing regime
  • Role of MAS
  • MAS supervisory toolkit - CRAFT framework, enforcement actions and exercise of its supervisory powers
  • Key regulations (various Acts, Notices, Directives)
  • Various MAS industry papers and emerging regulatory trends
  • The 3 lines of defence and basic tenets of sound control environment
  • Key appointment holders, licensed representatives and applicable regulatory requirements - CEO appointment, fit and proper criteria, misconduct filing, CPD requirements
  • Banking secrecy
  • Client data and outsourcing
  • Compliance concerns in use of data and machine learning
  • Sales and advisory practices
  • Fostering a sound conduct culture

Learning Outcome

  • Demonstrate an understanding and appreciation of the financial services licensing regime, regulatory landscape and regulatory approach in Singapore.
  • Assess the main principles of key banking regulations and analyse how different regulatory requirements apply in different situations.
  • Analyse compliance-related issues and evaluate the applicability of regulations.
  • Formulate practical and feasible solution/advice that reflect an appropriate application of regulatory requirements, and balance with business needs.
  • Assess existing regulatory trends or emerging regulatory issues, and its impact to compliance work.
  • Formulate a compliance response towards establishing sound conduct and culture in a financial institution.
Part-time Programmes / CET Courses
About IBF-STS
This course has been accredited under the Skills Framework for Financial Services and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

Participants are advised to assess the suitability of the course and its relevance to his/her business activities or job roles.

The IBF-STS is available to eligible entities and individuals based on the prevalent funding eligibility, quantum and caps. IBF-STS provides up to 70% course fee subsidy support for direct training costs subject to a cap of S3,000 per candidate per course subject to all eligibility criteria being met.

Find out more on www.ibf.org.sg.

IBF Certification for courses eligible for IBF Qualified (IBFQ)

Participants who successfully complete this course and fulfill the required number of Technical Skills and Competencies (TSCs) for the selected job role can apply to be conferred the IBF Qualified (IBFQ) certification status.

Find out more about IBF certification and the application process on https://www.ibf.org.sg/home/for-individuals/ibf-certification/why-be-ibf-certified