Meeting the challenge of regulation and compliance in Asia
Participants at the event agreed that tools such as automation were certainly helping to ease the burden of keeping ahead of Asia’s ever-changing regulatory regimes. But the greatest resource helping them meet and stay compliant was local knowledge.
The wide-ranging roundtable discussion focused on the cost of compliance, its impact on the M&A process, and the extent to which it affects a corporate’s decision-making process when considering entry to a new market. Other challenges such as attitude to regulatory compliance in emerging markets, cultural differences and relationships, all play an important role in the region.
As the cost of meeting regulatory and compliance requirements continues to grow, an increasing number of corporates are looking at outsourcing options. Around 20% of the region’s firms outsource some or all of their compliance functions. However, 42% of US businesses now use outsourcing to say up to date.
Please watch the roundtable discussions for more key insights.
For more information, we invite you to download the report Researching Asia’s Compliance and Regulatory Readiness conducted by CorporateTreasurer in partnership with the TMF Group.