Financial regulation has changed significantly in the last few years. More demanding, more detailed and more complex standards now apply to all aspects of regulation. Overall, regulation is pushing on further. It reflects especially fintech, cyber security, anti-money laundering and counter-terrorist financing, retail and wholesale conduct, and a raft of regulations driven by social objectives such as climate change and financial inclusion.
These developments will be of critical importance to financial institutions. Regulation is a key element in the landscape (together with the macro-economic environment, changing customer needs and preferences, innovation and competitive pressures) in which they operate and are seeking to develop viable and sustainable medium to long-term strategies.
Many financial institutions are focusing on business growth and customer experience, supported largely by data, data analytics, and digital transformation. But financial institutions will also need to keep a close eye on regulatory developments as regulation and supervision adjust to the data and technology developments.
KPMG Regulatory Horizons is a quarterly publication from KPMG's EMA Financial Services Regulatory Insight Centre (RIC), with forward-looking insights and commentary on financial services regulation from the perspective of the EMA region.
See the latest version below and get the recent financial services regulation outlook.