MyComplianceOffice Blog

The 1MDB scandal saw Malaysia’s former Prime Minister jailed for 12 years with a fine of 210m Malaysian Ringgit (USD $46.8m) - and the end of the 61-year political dominance of the country’s Barisan Nasional coalition political party.

For every registered firm with the SEC, it’s not a matter of if you’ll be examined but when. COVID-19 drove a necessity for the SEC to adapt its examination processes from traditionally in-person activities to remote. As a result, companies operating in the Asia-Pacific (APAC) region must now be ready and able to support the SEC in its procedures.

Small businesses and financial firms have undergone seismic shifts over the last few years. The pandemic forced employers to rethink their positions on remote and hybrid working models, and employees have come to expect greater flexibility. PwC’s survey of over 18,000 workers across Asia-Pacific (APAC) reveals that 66% expect to perform their roles in a hybrid capacity 12 months from now. In contrast, 24% expect fully-remote and only 10% fully in-person.

The modern workplace has undergone a significant evolution in recent years. The pandemic has changed employee priorities and organisations’ attitudes towards remote and hybrid work environments. These changes have also brought a greater acceptance of workplace flexibility - from both employer and employee perspectives. However, there are also new challenges.

Southeast Asia is a region of diverse cultures, religions, and political frameworks that holds a unique growth opportunity. Asia’s consumer markets are rapidly growing and diversifying. McKinsey Global Institute research found that consumers in Asia are now reaching higher tiers of the income pyramid. At the same time, diverse cohorts are developing within key cities. New behaviours, demographics, and growth angles and being created by emerging segments such as Gen Z gamers, digital natives, and older generations moving online, to name a few.