In the shadow of the financial crisis, global regulatory reform
of the financial services industry is here to stay/ Now, the focus
of attention is shifting to implementation – progressing
action on the business implications and planning for compliance.
Banks must also remain flexible to adapt to subsequent changes and
developments, with a number of other parallel policy initiatives
being put in place, notably recovery and resolution planning,
attention to corporate governance, enhanced college of supervisor
arrangements, and continuing uncertainty over tax. Changes in any
of these will impact companies' regulatory-response plans.
Certainly, there will be adaptation and implementation
challenges as banks work to understand new standards, predict
impacts, implement complex new compliance procedures, and design
appropriate regulatory controls. While this outlay
of resources may strain operations and slow growth, current changes
in the banking regulatory landscape are the
