Compliance, Regulations and the Regulatory Environment

Singapore University of Social Sciences

Compliance, Regulations and the Regulatory Environment (FIN571)

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 JAN

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

IBF Accreditation
This course has been accredited under the IBF Standards and is eligible for funding under the IBF Standards Training Scheme (IBF-STS), subject to all eligibility criteria being met.

Students who successfully complete the course progress towards obtaining the IBF Qualified (Level 1) Certification.

About IBF Certification
This course addresses the following Technical Skills and Competencies (TSCs) and proficiency level:

Change Management (Proficiency Level 3)
Corporate Governance (Proficiency Level 3)
Compliance Mindset Development (Proficiency Level 3)
Ethical Culture (Proficiency Level 3)
Regulatory and Legal Advisory (Proficiency Level 3)
Regulatory Compliance (Proficiency Level 3)
Stakeholder Management (Proficiency Level 3)
Industry Knowledge (Laws and Regulations): Financial Markets (Proficiency Level 2)
Industry Knowledge (Products): Financial Markets (Proficiency Level 2)

Participants are encouraged to access the IBF MySkills Portfolio to track their training progress and skills acquisition against the Skills Framework for Financial Services.

You can apply for IBF Certification after fulfilling the required number of Technical Skills and Competencies (TSCs) for the selected job role.

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 .