What’s next for financial services regulation?
KPMG’s Regulatory Center of Excellence has spent the last several years since the Global Financial Crisis to identify the deep implications that regulatory change has had on the industry. Our Evolving Regulation series for each sector – Banking, Investment Management, and Insurance – offer the industry a broad view for what lay ahead. It seems now that things may be levelling out, that the world is familiar with the vast sets of rules and regulations that are in place to prevent another crisis. In our view, regulatory reform has moved from the design phase to the implementation phase. And while for many areas we have a clearer direction of travel, we are still waiting for some details to fall into place. But in other areas, such as data and reporting, cyber security, and conduct and culture, the flow of new regulatory initiatives seems to be ramping up.