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Regulation and business have always been inextricably linked but in the past was seen as a minor part of business. However because of many high profile issues, regulation and compliance now affect virtually every part of business. Companies are required to comply with increasingly complex regulations drafted by legislators who know little of the businesses the regulations cover.
Companies face severe penalties for failure to comply and therefore have to spend increasing resources to comply with the law.
Companies face "a major technology challenge" if they are to comply with looming regulatory hurdles. The vast majority of European financial services institutions are poorly equipped to deal with compliance requirements at the enterprise level owing to too many paper-based processes, inconsistent management processes, legacy front-office infrastructure and limited data integration.
It is imperative to the success of an organisation that it is in a position to comprehend and assimilate regulatory change in a manner that ensures both compliance and the future of the business or delivery of public services. For many organisations this may require a level of investment in resources and rigour in business processes that has previously been thought unnecessary.
What all this means is that organisations need to be aware of the regulatory risks they face and to do this they need to understand the nature of the legislation, regulation, codes of practice, standards, and industry guidance that impinge on their business, the performance of their functions, and delivery of services. Only with that knowledge can they assess the steps that need to be taken to reduce their exposure to risk.
The issues are: -
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Increased costs.
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Potential exit from the market if costs exceed benefits.
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Increased time to understand and implement compliance.
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Analysing the increasing vast array of legislation to decide what is relevant to the business.
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Not understanding the requirements of legislation and its relevance to the business.
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Potential loss of reputation of the business if failure to comply.
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Other severe penalties.
Our consultant’s industry experience runs deep, with over 100 client assignments delivered either as part of the major consulting houses or within their own practices. They can help you deliver shareholder value and meet the regulatory requirements from their insights in key areas such as building clear compliant architecture, managing regulatory compliance and building compliant structures for future regulation.
Our consultants have partnered with leading organisations to address and deliver against a number of key challenges:
- Law of Regulation
- Management for Compliance
- Principles of Financial Services Regulation
- SARBANES – OXLEY and the cost of implementation
- Comparative and International Financial Regulation
- Public and Corporate Strategy and Governance
- Research Methods
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