More Regulation Means Greater Risk

Companies are anticipating significant increase in regulatory developments with accompanying costs, according to a study by Complinet, a provider of connected compliance information and technology solutions to the financial services industry.

Of the 280 global compliance professionals that responded to the survey, 66 percent expect that, largely as a result of recent market failures, there will be a significant increase in the time they have to spend liaising and communicating with regulators and exchanges in 2009. The survey also reveals the need to increase the amount of time that compliance professionals will spend on monitoring compliance and regulatory developments from regulators and exchanges.

With fewer resources available to manage greater regulatory pressure, the results demonstrate a need for a fully integrated, complete solution to aid compliance professionals. The explosion of disconnected information on multiple sites requires a lot of manual effort to pull together and understand the significance. This takes time that firms in the current climate cannot afford.

The survey also indicates that, given on-going market conditions, global compliance professionals will be required to implement more stringent controls as cost-consciously as possible.

To read Complinet’s 2009 Cost of Compliance survey in full, go to www.complinet.com/cost-of-compliance.

Companies are anticipating significant increase in regulatory developments with accompanying costs, according to a study by Complinet, a provider of connected compliance information and technology solutions to the financial services industry.

Of the 280 global compliance professionals that responded to the survey, 66 percent expect that, largely as a result of recent market failures, there will be a significant increase in the time they have to spend liaising and communicating with regulators and exchanges in 2009. The survey also reveals the need to increase the amount of time that compliance professionals will spend on monitoring compliance and regulatory developments from regulators and exchanges.

With fewer resources available to manage greater regulatory pressure, the results demonstrate a need for a fully integrated, complete solution to aid compliance professionals. The explosion of disconnected information on multiple sites requires a lot of manual effort to pull together and understand the significance. This takes time that firms in the current climate cannot afford.

The survey also indicates that, given on-going market conditions, global compliance professionals will be required to implement more stringent controls as cost-consciously as possible.

To read Complinet’s 2009 Cost of Compliance survey in full, go to www.complinet.com/cost-of-compliance.

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