Whilst there are some jurisdictions that perform better than others, the overall picture that comes from the industry regarding the regulatory environment is not encouraging.

The survey asked respondents questions regarding financial stability, market confidence, financial crime, consumer protection, regulatory compliance, predictability, customer service, and openness to foreign businesses. Nearly 90% of respondents agreed that regulations will become more onerous and a similar percentage agreed that regulations will become more costly. However, only 17% of respondents agreed that regulations will become more effective.

“Too big to fail is also too big to regulate. Several years into a series of crises the financial services community and its regulators have created a tangled web of large oligopolies being directed through legal and compliance systems, certainly not competitive businesses. As repeated failures show, nobody is any safer, and as this report shows, nobody feels any safer either. More regulation is just adding simultaneously to complexity and fragility.” said Professor Michael Mainelli, Executive Chairman of Z/Yen.

The full report can be found at http://bit.ly/1AMYpRP

For more information please contact mark_yeandle@zyen.com.