Editor's letter – Prepare to review your software, systems and controls

Now that some of the foundation blocks of the new global financial regulatory system have been set in the US with detailed rules to be drawn up on a strict timetable, energy firms need to gear themselves up to meet the challenges posed by the new legislation. Where the US treads, the European Union quickly follows, and the EU will be announcing shortly some of its own new financial rules – expect convergence. For firms active in the energy sector, reviewing software, systems and controls, may be