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.

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