Regulatory change is one of the biggest challenges for banks active in international financial markets. Since the financial crisis of 2008, regulators have tightened the regimes and the cost of ensuring compliance with new rules has increased the cost of doing business. Implementing new regulation is not a one-off exercise, as most frameworks demand that the addressees need to be compliant with defined requirements at any time. So, financial institutions are forced to (i) understand the parts of the regulations which are applicable to them, (ii) identify the legal entities which need to...

Regulatory change is one of the biggest challenges for banks active in international financial markets. Since the financial crisis of 2008, regulators have tightened the regimes and the cost of ensuring compliance with new rules has increased the cost of doing business. Implementing new regulation is not a one-off exercise, as most frameworks demand that the addressees need to be compliant with defined requirements at any time. So, financial institutions are forced to (i) understand the parts of the regulations which are applicable to them, (ii) identify the legal entities which need to...