The introduction of the Your Future, Your Super legislation in the Australian superannuation sector is expected to further accelerate the increased volume of mergers & acquisitions (M&A) activity over the short to medium term and impact financial crime compliance operating models
In this report, we answer several key questions that organisations in the super & wealth sector should consider when managing the financial crime regulatory risks associated when merging with or acquiring a new reporting entity. We also include some practical suggestions to assist organisations in facilitating a smooth transaction.
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Funds will benefit from robustly assessing the AML/ CTF program and membership profile of the incoming fund, assessing the ML/TF risk of the merger and ensuring that controls and transaction monitoring remain fit for purpose during any merger process.