Regulation is getting really complicated. Don’t expect it to get easier any time soon.
Countless articles have been written lately about the very real business challenges created by the onslaught of new regulation in everything from finance to technology to healthcare. The gripes are justified. Ten years ago there were 2 or 3 major regulators that most big companies had to deal with; now there are hundreds, creating a global patchwork of complex, often contradictory corporate compliance hurdles for multinational companies.
Why is this happening? One easy answer is that too-big-to-fail has led to a regulatory free-for-all that’s too-complex-to-manage. Sure, cash-strapped governments around the world see some new regulations as an opportunity to generate revenues and others as good sense guidelines to reduce the risk of another credit crunch. But there’s more to it than that. When you look closely at this golden age of regulatory scrupulosity, the real driver is innovation.
Find out more about how innovation needs to face the music when it comes to regulation here.
