Compliance practitioners in the financial services industry were already facing an inflection point as their programs have had to mature significantly following the 2008 financial crisis—but now the coronavirus pandemic may shift risks and compliance practices in the financial services industry once again.
That is just one of the many observations drawn from the “Cost of Compliance Report 2020” by Thomson Reuters Regulatory Intelligence (TRRI), which is based on a survey that closed before the pandemic flipped the world on its head. “The challenges for 2020 raised in the survey may now have been superseded by the challenges that arise from the pandemic, but they remain underlying issues,” the report notes.
