Dealing with Regulators
We work in a highly regulated industry. Therefore it is critical for our business to comply with the laws and regulations under which we operate. Complying with laws and regulations is essential in ensuring that we keep our banking licenses while sustaining our stakeholders’ confidence and relationships with the regulators.
It is important that we maintain strong and effective relationships with the various regulators within the Financial Services industry. Failing to meet our commitments to the regulators may result in the regulators taking action against us, which ultimately damages our brand and reputation.
If you are responsible for dealing with the regulators, you must abide by the following guidelines:
- Be open and honest in all your dealings
- Provide full and accurate information in a timely manner
- Be proactive in communicating with regulators to ensure that we understand their expectations, stay abreast of the latest regulations and anticipate risks and opportunities
- Be well prepared for meetings with regulators and inspections conducted by regulators
- Maintain open lines of communication and keep them well informed of our activities so there are no surprises
If you are unable to address a specific query raised by the regulator, please reach out to your immediate managers or Group Compliance for assistance.