The IGNUS Blog
Financial services are in the process of being reshaped by the winds of change. Many of these changes are driven by changes in international standards. Other changes are all around us, literally! The hotly discussed climate change debate has been put on the centre stage, once again, under the 2021 U...
In an increasingly globalised world, we are very aware that many areas are underserved and would benefit greatly from innovative financial solutions. The Caribbean as a region is one of those areas that, in my opinion, remains underserved by existing financial services and products. This current sta...
In my engagements with financial services professionals, I have shared my vision of the future of regulation. One aspect of regulatory engagement that I expect to change is increased supervision of the governance function in regulated firms.
Why? Because there is no such thing as ‘good’ or ‘bad’ ...
Evolution, simply put, is a process of change and adaptation. Regulatory practices and approaches evolve too. From a Darwinian position, those characteristics that are functional, effective and desirable are passed down. Those that are not are cast aside. Only the fittest will survive. The weak and ...
Recently, I was fortunate to have the opportunity to present to an engaged group of compliance professionals through the Co-op Credit Union League of Trinidad and Tobago (CCCULT). The topic – A Regulator’s Experience of the Caribbean Region’s Challenges and Successes.
Credit Unions play a vital r...
One of the challenges that continues to bedevil long-lived regulated firms is their legacy business – the portfolio of clients whom regulation grew up around. Let's dive into the impact of legacy business on customer due diligence!
Familiar Places, Familiar Faces
Legacy business is often known ...
Conducting customer due diligence (CDD) does not come without its potential challenges and pitfalls. Here are some insights to help you identify the challenges and navigate the pitfalls of applying enhanced CDD (ECDD).
Challenges and Pitfalls 1 - Incorrect Risk Assessment of Customers
One of ...
I recently had the opportunity to speak on a panel for the AI & Big Data in Fintech - Possibilities and Future Development Webinar, co-hosted by The Mexican Chamber of Commerce in Hong Kong and Virtual Fintech Fair. I was delighted to have the opportunity to offer my views as both a regulator and a ...
I’ve had a unique regulatory career thus far! In the almost-20 years of regulation, I have regulated investment business, fiduciary services, insurance business and banking businesses. From onsite inspections to prudential assessments to contributing to the development of Strategic Regulatory Work P...
