Following the 2008 financial crisis, regulatory compliance has come to play an ever-larger role in the lives of financial institutions. Regulatory requirements have become more complex and enforcement scrutiny has increased. Accountability regimes are requiring firms to closely examine their governance and culture and the extent to which firm leadership is “fit and proper.”
After a decade of these changes, firms have become more diligent and sophisticated in their compliance and risk management, and the global financial system is more stable and transparent as a result. And yet, despite the very real progress that has been made, there is also a growing sense of regulatory fatigue—that we are unable to decisively turn the tide in the battle against financial crime, that there is never enough transparency, and that, in the human tendency to fight the last war, we are leaving ourselves vulnerable to risks that are just emerging.
This year’s Global Regulatory Outlook, entitled Are We There Yet?, aims to reflect this complicated reality. The report includes contributed articles from Duff & Phelps and Kroll’s compliance, regulatory and risk experts. It outlines regulatory trends and explores diverse themes such as anti-money laundering, whistleblowing and technology.
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