Reengineering financial services: how data tagging has made a muddle of financial transparency-and what CEOs can do about it.
Chief Executive (U.S.) › Nbr. 2009, January 2009
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Summary
REGULATION
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Reengineering financial services: how data tagging has made a muddle of financial transparency-and what CEOs can do about it.
It seems CEOs are being put upon by all manner of regulations--anti-money laundering legislation, Sarbanes-Oxley, the SEC's IDEA initiative--the next generation of EDGAR--and now executive compensation controls. Next up is a systemic risk regulator, a financial products safety commission, and probably much more as legislators continue to probe the roots of the financial calamity that has befallen us.
All of this seems a distraction from the important things--like running a business and creating shareholder value. But what if it was possible to get a significant return on an investment in accommodating new regulation? Would fixing the financial services infrastructure and global systemic risk mitigation be worth a small effort to accommodate government regulators? Could lower financing costs, cheaper IPO fees, better disclosure and more direct access to shareholders make a difference? Could an embrace of a regulatory initiative as simple as taggi...See the full content of this document
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