The London-based company is beefing up its management team at a time when the industry is facing a raft of compliance challenges. While working at Bank of America for almost 17 years, Mrs Kumar’s experience has been focused on the legal governance of the industry.
Her last role at the bank which she left in the beginning of 2017, was that of Regional Head of Compliance. Before joining Bank of America, Mrs Kumar spent a number of years at Swedish private banking firm, SEB.
FX Global Code of Conduct
The implementation of the Global Code of Conduct for financial institutions has been a major theme in the industry over the past 18 months. Mrs Kumar joins ADSS as a key person with knowledge of the compliance side of the market.
As major financial institutions are adopting the recommendations outlined in the code, the adherence principle trickles down to smaller market participants.
The start of the process has been triggered by the central banks. They have effectively committed not to do business with financial institutions which forego adherence to the code.
After the implementation of MiFID II and GDPR this year, The FX Global Code of Conduct is next on the list of compliance challenges for firms from the industry.
While the adherence to the code is voluntary, an adequate understanding of the principles behind the document are at the core of becoming compliant with the recommendations outlined in it. ADSS has been boosting its throughout the year.
ADSS UK Board
After getting approval from the FCA to join the company as a Non-Executive director, Mrs Kumar joins Darren Dale, Philippe Ghanem, Christopher Hansen, Nico McAuley, Bachir Rabbat and Donna Strickland on the company’s board.
The Abu-Dhabi-headquartered company has earlier this year undertaken a rebranding effort. The from ADS Securities to ADSS in June.
Since the implementation of the new regulatory regime in the EU, ADSS .
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