Regulatory Investigations, Enforcement and Sanctions Defence in GMC

A supervisory enquiry from the Gelephu Financial Services Office is not routine correspondence. The Financial Services Act 2025 lets the Regulator demand information, commission reports, censure, fine, suspend and prohibit, and a breach of any Principle can put a firm's licence in question. Basnet Law Pte.

Responding to information requirements and Skilled Person report requests with a controlled and complete file.

Advising on the immediate notification duties a breach, control failure or fitness concern triggers.

Making written and oral representations against proposed censure, penalties, suspension, prohibition or licence cancellation.

Defending Approved Persons whose approval GFSO proposes to withdraw, vary or suspend.

Contesting objections to controllers, restriction notices and forced-disposal directions.

Advising on sanctions and AML exposure, including remediation and the risk that customer information travels to foreign authorities.

Licensed Firms that have received an information requirement, a Skilled Person notice or a proposed enforcement notice. Senior Executive Officers, Compliance Officers and MLROs facing a challenge to their approval. Shareholders and acquirers dealing with an objection, a restriction notice or a completed acquisition that lacked approval. Any firm that has discovered a breach or control failure and must decide how to report it.