Risk & Compliance
An operating family office is a regulated, targeted enterprise — for regulators, for fraudsters and for cyber-attackers. We build and run the compliance and risk function that keeps your office licensed, audited and defended: regulatory filings, licensing, AML/KYC, cybersecurity and operational controls.
In short: Risk and compliance for a family office covers the regulatory and operational obligations of running the office — licensing (such as a CMS licence in Singapore), anti-money-laundering and KYC procedures, regulatory and tax filings, cybersecurity, and internal controls. It protects the family from regulatory penalties, fraud and cyber loss, and is essential once an office manages assets, employs staff or operates across borders.
What risk & compliance includes
Licensing & regulatory filings
Securing and maintaining licences such as Singapore's CMS licence or DFSA authorisations, plus the ongoing regulatory and tax filings each jurisdiction requires.
AML, KYC & policies
Anti-money-laundering and know-your-client frameworks, a compliance officer function, and the policies and monitoring regulators expect.
Cybersecurity & data
Security audits, hardening, incident response and data-protection controls — family offices are high-value, under-defended targets.
Operational risk controls
Segregation of duties, payment controls, vendor due diligence and audit trails that prevent fraud and error inside the office.
How we run compliance
- Risk assessment (Weeks 1–4): A full review of regulatory obligations, control gaps and cyber exposure across the office and its entities.
- Framework build (Weeks 4–10): Licensing, policies, the compliance-officer function and cybersecurity remediation.
- Implementation (Weeks 8–16): Embedding controls, training staff and establishing monitoring and reporting.
- Ongoing compliance (Continuous): Filings, audits, monitoring and regulatory updates managed on an ongoing basis.
Frequently asked questions
Do family offices need to be regulated?
It depends on structure and activity. A single family office managing only its own family's assets is often lightly regulated or exempt, but offices that serve multiple families, employ staff, or manage third-party money frequently require licensing and full compliance frameworks.
What is a CMS licence and when is it needed?
A Capital Markets Services (CMS) licence is Singapore's authorisation for entities conducting regulated fund-management activities. Multi-family offices and certain fund-management structures in Singapore generally require one, along with a resident compliance function.
Why are family offices a cybersecurity target?
Family offices concentrate significant wealth with relatively small teams and often lighter defences than banks, making them attractive targets for fraud, phishing and ransomware. Dedicated cybersecurity controls and audits are now essential rather than optional.
What does ongoing family office compliance involve?
Ongoing compliance includes regulatory and tax filings, AML/KYC monitoring, license renewals, periodic audits, cybersecurity reviews and keeping policies current as regulations change — typically overseen by a designated compliance officer or outsourced function.