Recent unauthorized trading events across the capital markets industry have resulted in massive trading losses, unprecedented fines, heightened regulatory scrutiny and investor skepticism. In order to avoid future losses we believe banks will need to implement control programs that monitor and help prevent the execution of unauthorized transactions.
What this can mean for Capital Markets Companies
- Increased spending on unexpected regulatory initiatives
- Strategic spending de-prioritized in favor of required regulatory programs
- Banks forced to evaluate product exit strategies as expense ratios climb
- Growing numbers of risk / compliance staff requirements
- Banks who haven’t yet experienced unauthorized trading incidents are now under similar scrutiny as those who have
- Industry competition for skilled resources to do analysis and implementation work
- Increased spending on services from auditors, consulting firms and technology vendors
Key Challenges from Accenture’s Point of View
Accenture’s Target Control Design Considerations Control Framework
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