LawInContext Financial Products Distribution Compliance

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Financial services regulators around the world are increasingly proactive in regulating the cross-border …

Financial services regulators around the world are increasingly proactive in regulating the cross-border
financial products / services marketing and distribution activities of global financial institutions. It is, therefore,
critical for financial institutions who service clients across borders on a retail basis to understand the rules and
regulations applicable to their marketing and distribution activities and, importantly, the manner in which their
respective business development activities can be conducted in a compliant manner. Failure to do so raises
risk of severe fines or penalties for the institution and / or the individual.
LawInContext has designed a comprehensive online resource that serves as a practical tool for Relationship
Managers and Legal and Compliance personnel to help ensure cross-border retail financial services
compliance.

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  • 1. Financial Products Distribution Cross-border Retail Financial Services Compliance LawInContext Pte. Ltd., the online legal information and training venture of Baker & McKenzie, provides a suite of online knowledge and training resources that help meet compliance and strategic information and training needs of multinationals in an increasingly regulated world. The Financial Products Distribution Resource provides to financial institutions a comprehensive and practical compliance tool, allowing financial institutions to navigate the increasing regulation of cross-border retail financial services activities. ”Fulfilling current and future compliance and regulatory requirements is one of the biggest challenges for Wealth Managers Globally” 1 The Do’s & Don’ts in the Cross-Border Marketing of Financial Products & Services In today’s global economy, many financial institutions are keen to consider various strategies to facilitate cross-border marketing and sales of their financial products and services, particularly in promising new markets. However, in doing so, financial institutions are well advised to ensure that their cross-border activities are conducted in a compliant manner, prior to launching into such activities. Financial services regulators around the world are increasingly proactive in regulating the cross-border financial products / services marketing and distribution activities of global financial institutions. It is, therefore, critical for financial institutions who service clients across borders on a retail basis to understand the rules and regulations applicable to their marketing and distribution activities and, importantly, the manner in which their respective business development activities can be conducted in a compliant manner. Failure to do so raises risk of severe fines or penalties for the institution and / or the individual. LawInContext has designed a comprehensive online resource that serves as a practical tool for Relationship Managers and Legal and Compliance personnel to help ensure cross-border retail financial services compliance. The Financial Products Distribution resource provides online access to a cost-effective, timely and comprehensive database featuring a country-by country review of the rules related to the retail marketing and distribution of financial products and services offered by non-locally licensed banks, investment banks, fund managers and insurance companies. 1: WealthBriefing Survey 2013 - Technology and Operations Trends in the Wealth Management Industry LawInContext is the online legal information and training venture of Baker & McKenzie and is neither a law firm nor authorized to practice law. No attorney-client relationship will be formed or deemed to be formed with Baker & McKenzie or contributing law firms through the use of LawInContext’s legal information, training & services. This may qualify as “Attorney Advertising” in some jurisdictions. For full disclaimer visit www.lawincontext.com. Copyright © 2002-2014, LawInContext Pte. Ltd.
  • 2. Topics, Country Reports and Practical Checklists The Financial Products Distribution resource covers financial products distribution issues in 60+ countries and is authored and regularly updated by specialists at Baker & McKenzie and quality contributing firms. The Financial Products Distribution resource features 25 comprehensive country reports from around the world, with more targeted for development, each of which contains further information on the following regulatory topics from a banking, insurance, securities and funds perspective. General Market Information and Trends - General Country Information - Overview of Regulatory Environment - Current / Historic Foreign Regulatory Action - Cross-Border Regulatory - Risk Ranking - Enforcement Differences Intermediaries - Overview of Intermediary Market - Registration - Unregulated Intermediaries - Due Diligence - Corporate Governance - Fund Supermarket Intermediaries Covered Products and Services - Banking - Securities - Fund Management - Insurance Products Business Organizations - Banking - Securities - Fund Management - Insurance Laws and Regulations - Banking - Securities - Fund Management - Insurance Marketing & Sales - Banking - Securities - Fund Management - Insurance Licensing, Permit and Registration - Banking - Securities - Fund Management - Insurance Other Issues - Data Protection - Currency and Exchange Controls - Anti-Money Laundering - Record Keeping An essential part of the Financial Products Distribution Helpdesk is its practical Relationship Manager or "RM" Checklists, which provide do's and don'ts guidance for a non-locally licensed financial institution on cross-border sales and marketing activities in a jurisdiction during the customer prospecting, acquisition, and follow-up phases. RM checklists' coverage is currently available in over 60 countries with more in development based on client feedback. All RM Checklists' information is provided in convenient summary tables, which outline whether various activities are permitted or prohibited in the jurisdiction. Complementary Compliance E-learning Also available in the Financial Products Distribution Helpdesk is the Cross-Border Conduct E-learning Program, which is designed to efficiently train and test client advisors and other financial institution personnel on key cross-border conduct issues from a global perspective. This program may complement the Financial Products Distribution resource or be used on a stand-alone basis or in a blended training approach. Want to Know More? In order to construct the adequate solution for your specific business needs, or to arrange a free trial access to our online resources, please e-mail: info@lawincontext.com For more information about the online LawInContext multi-country knowledge resources and our suite of compliance e-learning programs, please consult www.lawincontext.com LawInContext is the online legal information and training venture of Baker & McKenzie and is neither a law firm nor authorized to practice law. No attorney-client relationship will be formed or deemed to be formed with Baker & McKenzie or contributing law firms through the use of LawInContext’s legal information, training & services. This may qualify as “Attorney Advertising” in some jurisdictions. For full disclaimer visit www.lawincontext.com. Copyright © 2002-2014, LawInContext Pte. Ltd.