Regulation moving too fast for financial services
Regulatory developments are coming too fast to allow financial services companies to react effectively according to a report from regulatory analysts, JWG.
The report sites the views of 25 firms that attended a recent regulation debate organised by JWG and Interxion.
The research highlights the severity of the situation for banking, finance and insurance firms, noting over 30 pressing ‘known unknowns’ with implications of massive cost and implementation problems.
To compound this, according to the report, the industry will face significantly higher non-compliance penalties, such as increased capital buffers and possibly even jail time, with 90% of
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