GLOBAL REGULATORY FRAGMENTATION : SHOULD THE INDUSTRY TALK ABOUT STREAMLINING COMPLIANCE ACTIVITIES?

In response to the economic and financial crisis in 2007/2008 and its implications to the global banking system, a barrage of regulations and legislations were levied onto industry participants by regulators across the globe. The industry spent the better part of the past decade implementing multiple regulatory change programmes, many in parallel but most within unrealistically tight timelines.