A delicate dance on a regulatory tightrope

08/10/2020

Regulations are the music to which businesses perform a delicate dance. If you took to the stage, a move or two out of sync would not cause the floor to drop out from underneath your steps. But for businesses moving to the rhythm of regulations, most particularly for banks and other financial institutions, the consequences of breaking tempo with compliance can be catastrophic. Who can stand the pressure?

In this moment of global upheaval, the financial services sector has never been under more regulatory pressure. COVID-19 rages. An increasingly volatile world economy hangs overhead. Regulatory bodies have only constricted tighter, requiring financial organizations to perform more complicated choreography to keep up with changing laws and rules governing their industry. All the while organizations are still finding their feet with emerging RegTech and bringing their swelling information estates to bear as required under regulations, but also as a fuel for innovative AI solutions. With pressure mounting, how can financial institutions navigate the regulatory tightrope?

In times of crisis, the best people to turn to for guidance are the veterans of the industry. Sébastien Piednoir is the Chief Compliance of CACEIS.