By Pete Settles
Amy Matsuo, Advisory principal and national leader for regulatory insights for KPMG’s Financial Services practice, has just issued a new report on the 10 key regulatory challenges facing financial services companies for 2020. This is the fifth edition of the annual report that includes recurring challenges and some new ones this year.
The report says regulators and policy decision-makers continue to struggle with the pace of change in the industry, as well as the interconnectivity of industries through data and technology.
Each of the key regulatory challenges is evaluated in the context of five core business imperatives, which include:
Topping the list in this year’s report is geopolitical change, followed by divergent regulation and data protection and governance. Geopolitical risks related to trade agreements and sanctions, anti-trust laws, and specific regulations/requirements will drive business changes and will have the most impact in the near term.
Matsuo also writes:
The report notes that the transition away from LIBOR in favor of new alternate reference rates will impact product offerings and pricing across multiple jurisdictions, though the new rates are expected to better insulate jurisdictions from geopolitical risks.
To see the rest of the top 10 regulatory challenges for financial services companies in 2020, you may download the full report below. If you would like to set up an interview with Matsuo to discuss the report, please contact Pete Settles @pgsettles or firstname.lastname@example.org.