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Asia compliance staff gain power as regulatory burden bites

Asia-based compliance teams are accumulating decision making power as private banks balance their growth with increasingly onerous regulatory demands in Hong Kong and Singapore. “Both jurisdictions are becoming very important and private banks cannot be in the position of having any gaps from whatever MAS or HKMA require them to do,” Bharath Vellore, APAC managing director of regtech provider Accuity,…

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