Payment and e-money institutions authorised under the Financial Institutions Act (Cap. 376) are required to safeguard clients’ funds in accordance with applicable regulatory requirements. This is fundamental to give consumers confidence that their funds are protected.
The rationale behind safeguarding clients’ funds is fully understood and universally accepted, but the practical application of regulatory principles has proven at times to be rather complex.
Embark can assist in developing a robust safeguarding of funds framework. Get in touch should you wish to learn more on how we can help.
