Where The Buck Stops

The pressure on financial services companies is growing as regulators around the world tighten the rules.

By Daniel Oakley, director, knowledge management for Ernst & Young’s financial services practice.

In a world where corporate governance regulations are becoming increasingly complex and demanding, financial services companies and their boards must be more diligent than ever. “The responsibility for getting it right goes back to the financial services firm,” says Daniel Oakley, director of knowledge management for Ernst & Young’s financial services practice. “They face reputational risks and legal risks.The major players have become so large … they are handling globally orientated deals that have to follow different regulatory regimes in different countries.”

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