Compliance (kEm plai Ens) - Adhering to the requirements of laws, industry and organisational standards and codes, principles of good governance and accepted community and ethical standards. With the evolution of compliance as a stand-alone professional service in the finance and business sectors, Ariel & Associates has emerged as an independent consulting firm dedicated to meeting the needs of its clients.
Why is compliance important? Irrespective of the industries or business sectors involved, it is imperative that each organisation maintains effective compliance procedures. The ultimate goal of compliance is to mitigate areas of potential business exposure with effective risk management systems and strategies.
Why is compliance important? Irrespective of the industries or business sectors involved, it is imperative that each organisation maintains effective compliance procedures. The ultimate goal of compliance is to mitigate areas of potential business exposure with effective risk management systems and strategies.
Services
Jeremy Danon is the principal of Ariel & Associates and has over twenty years' domestic and international experience. He has undertaken compliance work in a variety of businesses and industries - futures and securities broking, market regulatory, market making, foreign exchange, banking, insurance, managed investment schemes, Registered Schemes and remittance dealing.
Understanding and assessing compliance risk is an imperative requirement in today's complex regulatory landscape. Whilst there are many tools available to assist a business in achieving its objectives, the overriding principle remains - can it be done? Whilst there may be a compelling business case to proceed, it is essential to ensure that there are no regulatory impediments from achieving these objectives.
The Corporations Act 2001 (Cth) requires you to obtain an Australian Financial Services Licence ("AFSL") if you carry on a business of providing financial services. Unfortunately, the procedure to obtain an AFSL is not a quick process and ASIC does not provide any shortcuts! Ariel & Associates will undertake the process to obtain an AFSL on your behalf.
The principles underpinning AML/CTF revolve around identifying and verifying the identity of a prospective customer. In particular, a Reporting Entity's AML/CTF Program must note whether any further KYC information should be collected in regard to its customers and in what circumstances the existing KYC information should be updated or verified.
Ariel & Associates is concerned with the manner and indeed frequency by which clients of financial service businesses have been duped, misled or otherwise been the subject of deceptive or misleading conduct. Melissa Caddick and her wealth management business, Maliver - allegations that she operated without an AFS Licence and created fictitious broker statements.
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