RHT Holdings bags Singapore Business Review National Business Award for pioneering solution

They merged technology and consultancy to help firms meet regulations.

For coming up with a novel way to address concerns in line with new regulatory requirements in Singapore, RHT Holdings Pte. Ltd. won in the Compliance Consulting category at the Singapore Business Review (SBR) National Business Awards 2017.

RHT Holdings is a Singapore-headquartered integrated professional services company that has devised effective multidisciplinary business solutions for clients. CEO Jayaprakash Jagateesan accepted the award on the company's behalf for the project, which was called, "Independent Sales Audit for Financial Advisers by RHT Compliance Solutions (A subsidiary of RHT Holdings)".

In 2015, the Monetary Authority of Singapore (MAS) introduced a slew of new regulatory requirements for financial advisers that is meant to improve process of selling investment products. One of the requirements was for financial advisers to conduct an independent audit of the sales and advisory processes.

Financial advisers now are required to identify infractions in the sales and advisory process through independent reviews, mystery shopping or customer questionnaires, classify these infractions, and report them back to MAS every quarter. Infractions could affect the remuneration that is paid to financial advisory representatives, based on prescribed formulae.

RHT Compliance Solutions, a subsidiary of RHT Holdings, with its team of former regulators and experienced compliance consultants, worked with its technology partner, Cynopsis Solutions, to come up with a unique proposition to meet this new pressing need by the industry. This is the first and only solution in the market that merges technology and consultancy.

The new platform of technology and consultancy allows for an efficient and holistic portal that facilitates independent review by the consultants of RHT Compliance Solutions. This moves away from manual reviews onto a dedicated and systematic and dedicated platform that also allows for reviews to be done by experienced compliance professionals.

The SBR National Business Awards was held on June 8, 2017 at the Conrad Centennial Singapore.

This year's nominations were judged by a panel consisting of Ng Jiak See, executive director and head of corporate finance advisory at Deloitte Singapore & Southeast Asia; Choo Eng Chuan, ASEAN markets leader and partner, international and corporate tax services at Ernst & Young Solutions LLP; Toh Kim Teck, assurance partner at Foo Kon Tan LLP; and Henry Tan, managing director at NEXIA TS.

Check out the event photos during the awards night here.

If you would like to join the 2018 awards and be awarded as one of the most outstanding local companies in Singapore, please email [email protected] or click here for more information.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia