Plenty in the United States will happen this coming year to keep compliance executives busy, but they’ll need to keep an eye on overseas developments too. Europe is the main area to watch. Big changes to the regulatory and compliance environment are coming.
1. Britain loses its voice in Europe. Britain lost many friends in December when it vetoed French and German plans to tie the European Union’s 27 member countries closer together to save the beleaguered euro. Undeterred, the 17 countries that use the euro are setting up their own inter-governmental agreement to coordinate national tax rates, spending, and borrowing. Most other EU members are expected to join the deal, leaving Britain on its own and without much influence. This matters to compliance executives because the British have always provided a strong counterbalance to the EU’s regulatory zeal. The result could be a trading bloc less accommodating to U.S.-style capitalism.
