, the largest independent financial services regulatory advisory firm in South-Eastern Europe and the Middle East, has joined forces with leading global consulting firm, FTI Consulting LLP (‘FTI’), to provide access to world class regulatory advice and support for financial services firms in the region.
The venture aims to build on what is an extremely strong joint track record of advising businesses in Cyprus on regulatory and licensing issues, providing clients with a unique offer that combines deep local knowledge with global insights gained from FTI’s track record of advising financial services businesses and regulators around the world.
Firms in Cyprus and the region will be able to have access to a wider spectrum of world leading advice and support on regulatory intervention issues including on regulatory transformation and digitalisation, strategic matters, governance and culture reviews and financial crime advisory including on anti-money laundering, counter-terrorist finance, financial sanctions, bribery and corruption, market abuse and fraud.
Commenting on the initiatives, Jamilia Parry, Managing Director at FTI Consulting, said: “The global financial industry is facing an increasingly demanding and interventionist regulatory environment, while the business climate is also becoming increasingly more digital and complex to manage. Senior management and compliance functions are often expected to handle the additional challenges without increasing the number of their compliance resources. This is at the top of the Board agenda in Cyprus, the region and across the EU, where a steady flow of new regulations is forcing companies to change the way they operate, or risk going out of business.
“Our partnership brings together the depth of local expertise of in Cyprus combined with the broader global capabilities and insights that FTI brings. We’re very excited to be extending our relationship with this partnership.”
Demetris Taxitaris, Group CEO, added, “The compliance challenge and the implications of non-compliance are business critical issues, as is the embedding of culture change which regulators are seeking. FTI’s global experience delivered by our powerful partnership brings together an experienced team of former regulators, in-house compliance and risk professionals and experienced consultants and will help clients in Cyprus and the region manage the changing regulatory landscape and minimise their regulatory risk.”
For further information please contact:
About FTI Consulting
FTI Consulting LLP (‘FTI’) is a US-listed independent global business advisory firm with more than 4,700 employees and a footprint in all continents, providing advice and support to organizations on financial, operational and reputational matters including investigations, disputes, regulatory issues and financial and reputational crises. Individually, each practice is a leader in its specific field, staffed with experts recognized for the depth of their knowledge and a track record of making an impact.
FTI advises financial services firms as well as regulators in Europe and elsewhere on strategic, structural and operational matters including the conduct of investigations and regulatory approach. FTI professionals are world-class economists, former policy makers and regulators, forensic specialists, technology professionals and communication experts – all with extensive financial services experience. It is uniquely positioned to provide a broad array of assistance focused on protecting and enhancing its clients’ reputation.
About MAP S.Platis
is one of Europe’s leading independent financial services consulting Groups, whose clients include regulators, banks, funds and fund managers, investment firms, insurance companies and payment and electronic money institutions among others. The expert teams of MAP S.Platis provide unique and tailored solutions for licensing, regulatory compliance, risk management, internal audit, human resources, regulatory technology reporting, innovation consulting and executive training to financial institutions in Cyprus and beyond.
’ know-how and expertise in the financial services industry is deep and extended, with capabilities of supporting financial institutions at every stage of their life. Leveraging on a vast regulatory compliance experience accumulated while supporting the great majority of the local financial services institutions and extended work with regulatory authorities, MAP S.Platis can support any client’s regulatory needs efficiently and effectively.