Investment managers struggle with regulatory change
Australian investment managers have not been immune from global financial regulatory changes, according to new research released by SimCorp.
The research, contained in a report examining the impact of global regulation on Australian investment managers, found that 70 per cent believed the new regime for global regulation was not only impacting their decision-making but eating up time and taking away focus from innovation and strategic planning.
The research, released this week, said fund managers also reported high levels of frustration with the ambiguity around regulatory time-frames, content and impact.
As well, it found that 56 per cent believed the new regulations would increase compliance risk.
The SimCorp analysis also suggested there was a lack of knowledge and awareness about the changes which had come out of Europe and the US, with the company's regional manager, system solutions, Christian Eriksen, saying this lack of knowledge represented a concern for organisations competing for funds internationally.
"We anticipate that firms which fail to prepare and that are therefore unable to take a holistic view of their data and reporting needs, are likely to find their time and resources consumed by piecemeal actions as they belatedly react to change," he said.
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