KYC Burden on Smaller Oil Brokers – Thoughts?

Been pondering the sheer weight of KYC/AML regulations lately, especially for smaller, independent oil brokers or those operating in less conventional markets. It feels like the larger institutions have the dedicated compliance teams and tech stacks to handle the evolving requirements, but for the nimble players, it's becoming a disproportionate burden. Are we seeing a competitive disadvantage forming, or are there innovative solutions emerging that I'm just not seeing?

It's not just about the cost, but the sheer complexity of staying ahead of every jurisdictional shift and understanding the nuances of 'beneficial ownership' across multiple intertwined entities. Would be curious to hear how others in the energy space are navigating this without drowning in paperwork or getting flagged for an innocent oversight.