The past 10 years have seen an increase in the number and breadth of regulations aimed at the financial services industry, many of which stem from the financial crisis of 2007-’08. For example, requirements for capital adequacy, and restrictions on proprietary trading, have profoundly affected the covered institution. Yet beyond rules spawned the financial crisis,
Asset Management is no exception to the dramatic changes currently facing the financial services industry. This transformation is happening on a global level, including the introduction of regulations that impact firms’ operating models in a variety of ways. Technological innovation is a driver of the changes affecting how firms interact with their clients, impacting asset
Over the last several years, bank governance, risk and compliance (GRC) programs worldwide have been placed under increased scrutiny by regulators, elected officials and the public. The myriad of new regulations and requirements, primarily driven by the Basel III framework and regulations such as Dodd-Frank, have increased the complexity and costs to maintain regulatory compliance.
In today’s financial services landscape, the need for effective risk management has never been more important. This might seem obvious, especially after the financial crisis that eliminated many institutions, both large and small, from the market place, however banks are continuing to fail. In fact, according to the Federal Deposit Insurance Corporation, over the past
Though the pace of creation of new regulatory mandates has slowed and the future of existing rule implementation, such as portions of the Dodd-Frank Act, have been thrown into doubt with the Republican victories in November, there are still many issues facing banking institutions throughout the United States. In the 1st Quarter of 2015 Basel