The waves of financial regulations that are being introduced around the world, including Basel III, the Dodd-Frank Wall Street Reform Act and the European Market Infrastructure Regulation, “represent some of the biggest changes in financial services in 70 years,’’ by the account of Tony Scianna, deputy head of strategy for SunGard Data Systems’ capital markets business.
“Yet even as we await further details of these rules,” he says, “new regulations are being announced. With all of this uncertainty, regulatory risk – the risk of not being ready when the wave of regulations goes into effect – has moved alongside traditional definitions of risk” for systems managers.
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