What price regulatory compliance?
The US banking industry has been inundated with a set of mandatory changes such as Basel II, the Sarbanes-Oxley Act and the Patriot Act, which, responded to individually, represent a significant portion of an organisation's change budget. Dai Bedford, partner at Capco, explores how the overlaps within the programmes can be designed to deliver zero cost compliance.
These days it seems that financial institutions cannot avoid an ever-growing list of regulations. Of course, dealing with regulations is nothing new for the industry. After all, investors and depositors have to be protected from unscrupulous individuals and institutions. However, the situation has worsened since the stock market crash of 2001, when most of the oversight institutions were
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