Collaboration to finally realize GFC reforms via digitalization
The good news about compliance is that financial firms are finally getting the last generation of G20 Global Financial Crisis (GFC) regulations under control, said PJ Di Giammarino, CEO of JWG, a financial regulation think-tank based in London. The not so good news is that the industry has been hit with new sets of regulations around digitalization and Covid-19.
“Hundreds of new trading, risk and governance rules introduced since the financial crisis have been tweaked again for COVID, and some of the new obligations which were put on pause last year are now being considered ‘business as usual’.”
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