Regulation: finding common ground
29 September 2015
Over recent years, the financial industry has seen a vast increase in regulation, partly brought about by the recent economic meltdown. It was felt things had to be done differently, stimulating a wave of unrelenting regulatory change that looks set to remain for the foreseeable future.
Considering how far-reaching the impact of the financial crisis was, it’s hardly surprising that regulators have been clamouring to come up with new rules. However, this regulatory overload is creating its own issues. Banks are now faced with having to comply with a torrent of fragmented rules from various jurisdictions and financial supervisors.
At one time banks had a clear view of the key financial regulations that affected their businesses. Today they face a raft of new rules and protocols that influence their activities across a number of different channels.