Regulatory Insights

  • ComplianceAsia's Services for Independent Scorecard Reviews

    The balanced scorecard framework (BSC framework) was issued in 2015 by the MAS to establish a set of standard audit procedures, as well as penalties and remedial actions for representatives of insurance companies and banks who distribute investment products and insurance policies with an investment component. This requires financial advisers to establish an Independent Sales Audit Unit (ISA Unit) to review the work quality of their representatives and supervisors. However, setting up an ISA unit internally can drain resources.

    ComplianceAsia can help with BSC checks on an outsourced basis. At a cost effective price, we have a dedicated and operationally independent team of internal auditors working in ComplianceAsia Internal Audit.

    For more information on how we can help review BSCs for licensed financial adviser companies, please click here.