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Financial Industry Views Regulation Positively but Insufficient to Prevent the Next Crash
Duff & Phelps survey shows top financial services executives see benefits to regulation
NEW YORK – According to the sixth annual Global Regulatory Outlook report published by Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, the financial services industry is seeing some benefits to current regulations, although the industry is dubious that current regulations are sufficient to prevent another crash.
For its 2018 survey, Duff & Phelps surveyed 124 senior financial services executives from across the globe, and published the full results here.
The results were surprising:
“Even while the limits of regulation are widely recognized, the increased confidence in the effectiveness of regulation may reflect a growing cultural shift in the financial services industry,” said Julian Korek, Managing Director and Global Head of Compliance and Regulatory Consulting at Duff & Phelps. “What firms still want most is harmonization, ostensibly to reduce the complication and cost of complying with different standards across jurisdictions. But, given the tendency for regulatory alignment to level up without reducing duplication, it remains unclear whether greater consistency would in fact reduce or add to the cost of compliance. Firms should be careful what they wish for.”
About Duff & Phelps
Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, disputes and investigations, compliance and regulatory matters, and other governance-related issues. Our clients include publicly traded and privately held companies, law firms, government entities and investment organizations such as private equity firms and hedge funds. We also advise the world’s leading standard-setting bodies on valuation and governance best practices. The firm’s nearly 2,500 professionals are located in over 70 offices in 20 countries around the world. For more information, visit www.duffandphelps.com.
M&A advisory, capital raising and secondary market advisory services in the United States are provided by Duff & Phelps Securities, LLC. Member FINRA/SIPC. Pagemill Partners is a Division of Duff & Phelps Securities, LLC. M&A advisory, capital raising and secondary market advisory services in the United Kingdom are provided by Duff & Phelps Securities Ltd. (DPSL), which is authorized and regulated by the Financial Conduct Authority. M&A advisory and capital raising services in Germany are provided by Duff & Phelps GmbH, which is a Tied Agent of DPSL. Valuation Advisory Services in India are provided by Duff & Phelps India Private Limited under a category 1 merchant banker license issued by the Securities and Exchange Board of India.