Below are real life examples of how our team of experienced practitioners have helped clients.
Documenting obligations and controls
PX Partners has developed obligations and controls matrix for the Investments division of a global wealth management firm. The firm is maturing the design and implementation of its compliance management framework and engaged PX Partners to take the next leap in their journey. This involved plain-language drafting of obligations and working with business stakeholders to identify, interrogate and appropriately document actual controls – not processes.
Design and distribution of financial products
The PX Partners team has advised an Australian retail bank and Responsible Entity on the design and distribution of new financial products. The team advised on product governance frameworks, participated in Due Diligence Committees to approve disclosure documents and provided compliance advice on distribution strategy, advice models, customer conversation scripts, marketing collateral and complaint management policies. The team also advised management on conduct risks and conflicts associated with sales processes and incentives.
Licensee undergoing a regulatory investigation
The PX Partners team has led an Australian financial services licensee’s response to a regulatory investigation. This involved advising senior management and Boards on the response strategy, developing internal protocols including for communication and record keeping, working with the licensee’s teams to analyse scope and source information / documentation, drafting of written regulatory responses and liaising with case officers at the Regulator throughout the lifecycle of the matter. PX Partners also advised on the associated internal remediation.
AML/CTF Program remediation
PX Partners has been engaged to remediate the AML/CTF Program of a financial services firm. This included conducting a gap analysis of practices against regulatory requirements and benchmarking to industry practice. The team developed the AML/CTF Program and implemented sustainable processes for risk assessment, customer due diligence, transaction monitoring, ongoing CDD, training, employee due diligence and Board reporting. The team also conducted due diligence of services providers and screening technologies. PX Partners has also performed Independent Reviews as required by AML/CTF Rules.
Global fund manager establishing Australian presence
The PX Partners team has led the GRC stream of work for a global investment firm establishing an Australian office. Scope included licensing, Company Secretarial set up, regulatory liaison, AML/CTF, development of compliance policies and compliance plans, and training to Directors and Responsible Managers. Business growth from 10 employees to 70+ within 3 years.