Assessing regulatory stress in the financial services sector
This report is based on a global survey of 400 senior financial services executives, as well as a number of in-depth interviews with leading figures at financial services companies and in consultancy and academia. It concludes that the industry is continuing to face huge pressure from ongoing regulatory upheaval and that readiness levels vary enormously from company to company.
Coping with the regulatory challenge has moved up the priority list for most financial services businesses, particularly as it has begun to impact on core business practices and companies’ ability to focus on new opportunities. Regulatory change is a key focus for functions across the business, from the chief executive’s office onwards, as companies strive to move beyond a box-ticking approach to compliance to a more deep-rooted cultural shift.