The financial impact of regulatory reform

Banks and financial institutions are facing an unprecedented flood of reforms and regulations. The complexity and demands of these regulations have forced banks to take a new horizontal implementation approach, but what of the financial implications?

The onerous compliance responsibilities faced by banks are being compounded by a demanding and inconsistent schedule for the implementation of the new rules. These deadlines are sometimes are global and fixed, but for others local regulators set different implementation dates for their individual jurisdictions. 

This is the case for rules relating to over-the-counter (OTC) derivatives clearing. They began in 2013 in the US (with the Dodd-Frank Act), in 2014 in Europe (EMIR), yet Asia is lagging behind.

But it’s not just differing deadlines that are causing issues amongst the financial industry. Variations are also being seen across regions in relation to the sequencing of implementation and global differences in the rulebooks.

To read the full article, download the PDF here >

 

Related Insights

Regulation: the strategic dilemma of IT architecture

Why is it essential for banks to develop a strategy that looks at the impact of new regulatory rules across the entire business and trade lifecycle?

Read more >

How regulation and market trends are redefining the front office

Global events, technological advances, market conditions and a regulation tsunami have blurred lines between the front, middle and back office.

Read more >

Regulatory compliance: the benefits of a horizontal approach

Find out how a new wave of regulation is highlighting the need for a fundamental change in attitudes.

Read more >

Regulation: finding common ground

The last financial crises triggered a wave of regulatory change that looks set to remain for the foreseeable future.

Read more >