In last year's report we conjectured that the new political context within Europe and in the US, and developments in Asia and elsewhere, were likely to have a significant influence on regulatory policy and rule-making, during 2017 and beyond. Our insight has been proven correct.
After the financial crisis, regulators around the globe agreed common aims to enhance the integrity of markets and to reduce risks for governments and consumers. There was consensus on the overall regulatory agenda and priorities, leading to a convergence of worldwide regulatory standards. That consensus now appears to be breaking down: there is a parting of the ways.