Kristin R. MoyerJay Wolstenholme here. No matter who wins the upcoming U.S. election, get ready for more politically-driven decisions on regulations.
Recent actions on short selling were beyond economics – certainly not surprising. Why? Because Main Street sentiment wanted Congress to effect regulatory policy immediately. The voters demanded action from Congress regardless of whether or not the action was economically efficient. Now in the U.S. the ban has been lifted. But amazingly in the U.K., the Financial Services Authority (FSA) has decided to extend their ban. Main Street mania extends globally.
Regulatory reporting will likely be overdone for a time. Inevitably, hoards of data will be required – effectiveness will be measured in the quantity of data (as opposed to quality).
Finding the positive light in this is that these regulatory data demands will require firms to concentrate on enterprise data management. Who knows, this might be the catalyst effecting positive progress of normalized data across the enterprise, and maybe even across geographical divides.
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Category: Uncategorized Tags: banking and investment services, election, regulation, short selling
