Two organisations focused on compliance have teamed up to drive their business development in Asia-Pacific.

Laven Partners, the global consultancy and compliance group for the fund management sector, and ComplianceAsia, a compliance provider in the Asia-Pacific region, have entered into a co-operation arrangement.

The firms will provide a “comprehensive compliance and consulting service”, a statement from Laven Partners said, adding that it will offer services to local and global financial industry groups.

“The arrangement will allow Laven Partners’ existing Singapore clients to benefit from the in-depth knowledge and expertise of ComplianceAsia in regulatory and compliance matters across Asian markets from ComplianceAsia’s Singapore office (which also covers South East Asia and India) and its Hong Kong office which also covers the PRC, Taiwan, Japan and Korea,” the statement said.

Laven Partners’ London office will offer compliance advice covering the European Union’s recently enacted regulatory overhaul of alternative investment fund managers, the EU’s UCITS fund frame, as well as provide support connected to the actions of the UK Financial Conduct Authority. The New York office will help with US registration and other local reporting requirements for regulators such as the Securities and Exchange Commission.

The announcement highlights how Asian financial institutions, along with those in other regions, are wrestling with a heavy workload to deal with with regulators' actions in areas such as investment suitability, anti-money laundering controls and know-your-client checks.