On October 14, Ronald Gould, Chairman of Think Alliance Group, spoke to AmCham members and guests at a Joint Committee Luncheon on the topic of Global Banking Regulations Compliance issues, including Dodd-Frank, Anti-Money Laundering (AML), and Know Your Customer rules (KYC).
Large multinational financial institutions, regional banks and even predominately Asian financial holdings with only a limited presence in the United States have been caught off-guard by changing rules and expectations from regulatory authorities.
In reality, AML and KYC compliance is nothing new. But the level of complexity and cross-border ramifications are not well understood. Mr. Gould shared his insights so that listeners might be made more aware and better prepared to handle these issues in the future, in an ever-changing, increasingly complex and globalized economy.
Some topics covered during Mr. Gould’s presentation included:
- Changing global regulatory requirements
- Emerging trends and industry practices for global banks and asset managers
- More intrusive regulatory oversight, implications of the Dodd-Frank Act in the US that will affect financial institutions and asset managers globally
- Greater focus on governance, management and compliance including KYC and AML
- Challenges and opportunities for Taiwan
This event was a joint committee luncheon, hosted by the AmCham Banking, Asset Management, and Capital Markets committees.
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