Advisor Spotlight: Nizam Ismail on Resurgent Regulatory Compliance
Staid, boring and dry are among the typical adjectives for regulatory compliance and that has not changed much but with the advent of financial technology (FinTech), regulatory compliance is in a resurgence as both regulators and financial institutions race to keep up with each other and not fail in the pursuit anti-money laundering (AML), countering the financing of terrorism (CFT) and other financial crimes.
Nizam Ismail sits on the Chynge Board of Advisors and he stands in the epicentre of this regulatory tornado as a heavily sought-after domain expert on regulatory compliance for this rapidly evolving space catalyzed by cryptocurrencies, initial coin offerings (ICO) and digital assets exchanges in addition to traditional financial services. Nizam founded RHT Law Compliance Solutions, a consultancy and solutions provider for regulatory with presence in Singapore, Malaysia and Indonesia and also heads the Financial Services Practice of RHT Law Taylor Wessing LLP.
Nizam has over twenty-five years of experience and expertise in financial services regulatory compliance and litigation in three marked phases. Nizam was a regulator and prosecutor, with tenure in the Monetary Authority of Singapore (MAS) itself for policy reform in the various acts in financial services including the Securities and Futures Act (SFA), Financial Advisors Act and the Business Trust Act relating to corporate governance and market conduct, and also prosecuted corporate and securities fraud cases as a prosecutor in the Commercial Affairs Department (CAD).
Secondly, Nizam was in-house counsel at marque financial houses such as Citi, Lehman Brothers and Morgan Stanley where he led regulatory compliance for sales, trading, and product. Nizam then coalesced these two distinct experiences and hung out his shingle as RHT Compliance Solutions. With clear and distinct experiences as a regulator, in-house counsel and business owner, Nizam is a thought leader and evangelist for regulatory compliance in general, and in FinTech, in particular, with the rapidly evolving regulatory environment with the application of technology such as artificial intelligence (AI)/machine learning, biometrics, big data, cloud computing, cryptocurrencies, cybersecurity, digital asset exchanges and distributed ledger technology (DLT).
Nizam is a respected speaker on the conference circuit, is often quoted in trade rags, and appears in mainstream media for his uncanny ability to decompose complex issues in regulatory compliance and technology into bite sizes for the layman. Nizam remarks:
I have known Chynge from its first incarnation out of the NTU incubator back in 2015, and watch Chynge pivot, grow, and adapt to the rapidly changing regulatory environment while keeping its main vision of simple and elegant financial services for the masses. As a true-blue FinTech, Chynge pushes the envelope and constantly tests the limits of regulatory compliance. I am honoured to support Chynge with my knowledge, experience, and business network to create novel financial solutions and make the world a better place.
Nizam is a key asset for Chynge as he complements our in-house counsel in addressing regulatory matters. Furthermore, Nizam strengthens the Regulatory Technology (RegTech) side of Chynge’s digital payments by giving contextual relevance to the AI/machine learning models of money laundering, terrorism financing, and fraud. The formalization of the Chynge RegTech Center of Excellence and the expansion of RegTech to include Supervisory Technology (SupTech) is the one-two knockout punch to financial crimes. Joe Tusin, CEO & Founder of Chynge postulates:
The rapid growth of the FinTech industry and its acceptance by the general populace will create new customer experiences that will re-imagine payments. Chynge doesn’t devise pie-in-the-sky products but we solve difficult real-world business problems. The cadre of blue-chip advisors such as Nizam is proof in the pudding that Chynge is en pointe make a significant impact in the payments business.
Welcome, Nizam, to the Chynge team!
Read our other advisors https://medium.com/@chynge/chynge-remittance-board-of-advisors-high-octane-db5ee6622e85
To learn more about Chynge, please visit: http://www.chynge.net
Read the Whitepaper: http://bit.ly/chynge_whitepaper
Join the Chynge community on Telegram: https://t.me/chynge
