Distributors feeling the compliance strain

Fund distributors say they face unprecedented pressure from regulators keen on stamping out mis-selling and money laundering, which has made it difficult to even open a bank account for fund investment. The rising regulatory burden represents the biggest challenge facing the asset management industry, said 45% of respondents to a recent BNP Paribas survey of retail banks, private banks and insurance firms. The findings, presented at the BNP Paribas Investment Partners Asia-Pacif…