KPMG has announced further investment into their Africa Regulatory Centre of Excellence (RCOE), an entity that offers an integrated multidisciplinary team approach to regulatory change. Alison Beck (pictured), leader of the Financial Services RCOE in South Africa, said:
"Owing to the frequent significant regulatory changes taking place, companies in the financial services sector are increasingly demanding pragmatic solutions from advisors that have a clear-cut global and local view of the regulatory change agenda."
Beck added that these regulatory changes can no longer be seen from a single point of view, and require multidisciplinary perspectives to ensure that the challenges are "tackled holistically".
Tim Bashall, leader of the overall RCOE in South Africa, explained the origins of the RCOE:
"Post the Global Financial Crises, Regulatory Change and the associated Reputational Risk continues to be a Top 5 business priority that executives and non-executives alike at Financial Services and other institutions are grappling with Above that, scrutiny from multiple stakeholders, including regulators, investors, counterparties and other market participants, is intensifying and detailed compliance demands are ever increasing. It is against this backdrop that we originally launched the RCOE in 2013 and now continue to invest in it."
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