Article: When Big Banks Build Small16 June 2016 | Barry Quinn
Big banks are, ironically, ‘building’ small. Faced with an unprecedented compliance requirement in the form of new margin mandates, banks are doing what they have always done: tackling each regulation anew by constructing small compliance ‘houses’. Rather than identifying solutions that will allow them to meet massive compliance requirements more effectively, the house-build approach tackles each regulation separately, with the same inefficient toolset (more regulation equals more lawyers).
An alternative solution is to build compliance skyscrapers: leveraging fewer lawyers, but more technology and robust process to enable compliance solutions that solve for scale and repeatability.
Uncleared Derivatives: A Brief Primer
For years now, banks have attempted to keep-pace with the steady stream of complex regulations developed in the wake of 2008: Dodd-Frank, EMIR, FATCA, the list