Our industry faces an increasingly complex global regulatory landscape. How do we stay ahead? By thoughtfully managing regulation and developing risk-resilient technology, so our clients can feel secure no matter what comes their way.
While the investment industry has been steadily marching toward a digital environment, regulators and tax authorities have, in general, been moving at a slower pace. As a result, the pinch-point for many investment industry processes is where they come into contact with regulators and tax authorities, and COVID-19 has made that pinch all the more painful.
This year is mission-critical for the migration away from LIBOR as regulators push to discontinue it by 2022. But with less than 18 months left, COVID-19 challenges, and liquidity being slow to develop in alternative reference rates, the market is limping toward that target.