Financial regulations up in 2011 and likely to keep rising

Banks and financial services firms had to cope with lots of bad press in 2011, but they were faced a bigger challenge – as many as 60 regulatory
According to a Thomson Reuters Governance, Risk & Compliance report on regulatory reform, regulators announced 14,215 changes in 2011, a 16 per cent increase from the 12,179 announcements in 2010.

The report shows that the majority of regulatory activity, 57 per cent, came from the US. Britain and other European nations made up 22 per cent and Asia accounted for 15 per cent.

The announcements, which included anything from a speech which may signal the direction of a new regulation to a final binding rule, has grown continuously since 2008 when regulators issued 8,704 changes.

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