New report can be used as a guide to the new regulatory terrain for international firms
FRSGlobal has released a report which tracks the responses of the major regulators worldwide to the financial crisis. The report can be used as a guide to how the new regulatory landscape is evolving.
Selwyn Blair-Ford, Senior Domain Expert at FRSGlobal, and author of the report, said: ‘On the whole, everyone is on the same page in terms of regulatory policy responses. However, when you explore further, you notice that different jurisdictions are at different levels of readiness which means that, inevitably the pace of adoption won’t be the same.’
He added: ‘If those differences become too large we won’t achieve the level regulatory playing field that we have been looking for and ultimately run the risk of inviting further troubles. This research represents the scorecard at half time – there is still a lot of work to be done.’
‘Those responsible for tracking and understanding the regulatory environment have a very difficult time at present. The different policy making bodies are coming out with a deluge of proposals, but each with a different language and tradition for describing similar concepts. There are also differences in meaning and emphasis to contend with. I put this report together to obtain a holistic view of what has been proposed, and ultimately help the industry make informed decisions about future requirements.’