A fully functioning financial system is vital in many aspects, such as customer protection, proper corporate governance, and a full-functioning economy.
Financial Regulation is the rules and regulations which apply to financial intuitions, such as Banks, Credit unions, Insurance companies, Trading Platforms, Investment houses, Asset managers, Crowdfunding, P2P, and more – must follow. But what does it mean “must follow”? It means ongoing oversight and enforcement of those rules and regulations by using a variety of aids, such as technological tools, regular controls, monitoring unusual cases, and updating information and instructions in the field of work.
Ensuring firms have the funding to trade safely, have the appropriate risk controls in place, and are appropriately governed is known as “prudential regulation.” Ensuring firms manage their customers’ finance fairly, from the beginning of the sales process to how to deal with their complaints, is known as “consumer protection.”
To ensure firms are fully compliant with financial Regulations, they need to obtain a complete and comprehensive set of regulatory instructions, both on an ongoing basis and for “end cases.” All while frequently updating and quickly implementing updates issued from time to time by the Financial Regulator.
Financial Regulation dep. at Shibolet has a unique combination of knowledge and agility, enabling us to give holistic and comprehensive service tailored to the client’s needs while looking forward to what is next. We know how to meet the financial Regulator’s demands while maintaining a sound practice that doesn’t burden the clients. We face varied complexities since the field of Financial Regulation is changing rapidly. For that, we monitor the publications daily while giving the clients “the bottom line” for implementation.
- Financial Licensing (P2P, Non-bank Credit, Crowdfunding, Financial Information Provider, financial asset service provider, Trading Platforms, and more) in Israel & abroad.
- Financial Regulatory monitoring & reviews.
- Implementation & Compliance & Risk Management.
- Legal opinions – both for license applications and for strategic consultation.
- Assisting with the Financial Regulators in Israel, such as the Israel Securities Authority, Supervisor of Banks, Capital Market Authority, and Anti-Money Laundering Authority.
- Professional training and courses.
- Anti-money laundering procedures – Policies, KYC, Risk management.