Regulatory reform and data management: problems and benefits
More stringent regulatory demands for reporting and transparency mean that data management has moved to the top of the priority list for bank compliance teams. But far from being a series of onerous boxes to tick, the change also represents a unique opportunity to change the way that data is perceived and to recognise the benefits of good data management as a distinct area.
The need for such regulation and internal governance is clear. When US energy trading firm Enron failed in 2001, it took
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