Deloitte have announced the introduction of its Asia Pacific Centre for Regulatory Strategy. The development of the centre significantly strengthens Deloitte’s regulatory advisory capabilities across the region.
Dealing with regulation in the financial services industry continues to pose a major challenge to many organisations and their supervisors. While a significant amount of work has already been done to secure the global financial system since the onset of the financial crisis seven years ago, requirements continue to evolve, particularly as existing standards are adjusted or new areas of focus emerge.
“The launch of this centre marks an important development for financial institutions that operate across Asia Pacific as they have the added layers of complexity of managing unique markets and varied regulatory frameworks.
“For Deloitte it will significantly strengthen the firm’s capability to provide clients in Asia Pacific with the necessary forward looking advice on successfully managing complex regulatory change,” Kevin Nixon, lead Partner of Deloitte’s Asia Pacific Centre for Regulatory Strategy said.
The new centre will focus on promoting regular dialogue with the industry and regulators and delivering critical insights on managing the aggregate impact of regional and international regulatory policy. It will combine deep expertise across the Deloitte Asia-Pacific network and its broad range of advisory services.
“Financial institutions in Asia Pacific are under an increasing amount of pressure to meet international regulatory timelines while managing varied local regulatory requirements,” saidDr. Janson Yap, Deloitte’s Asia Pacific Enterprise Risk Services Leader. “This centre will help organisations navigate these challenges by taking a forward looking view of regulation and its implications on business strategy.”
Dr. Yap added that the Deloitte Asia Pacific Centre for Regulatory Strategy will be led by Mr Nixon, who is also the former Managing Director of Regulatory Affairs at the Institute of International Finance (IIF). “Kevin, who is a well-known and respected voice globally on regulation and governance, is supported by some of Deloitte’s most prominent risk & regulatory experts located in key jurisdictions across the region.”
“In Southeast Asia the regulatory landscape is diverse and highly complex, in some cases more so that other parts of Asia Pacific” said Mr Thio Tse Gan, the Centre lead in Southeast Asia. “With the launch of the Asia Pacific Centre, Deloitte can work with clients to overcome this added complexity, helping them proactively manage local, regional and international reforms and effectively integrate the regulatory outlook into their long term business strategy.”
