The regulatory and legislative fallout of the global financial crisis continues to place intense pressure on the financial industry. Not only is the volume of regulations growing, so is their
complexity—a result of the diverse and inconsistent array of regional and jurisdictional mandates being imposed on financial firms. Each of the myriad of regulators and standards bodies representing national, international and state-specific interests has its own requirements and criteria. Some have conflicting requirements; others have redundant requirements but don’t
share the same regulatory point of view. The problem is that financial services firms need to heed all of these requirements and they need to do it quickly.