Three Ways out of the Minimal Viable Compliance Trap
Background: Roy Kirby
12 Apr 2018
When major regulatory deadlines are around the corner, the financial industry inevitably tends to respond by scrambling for minimum viable compliance. Put simply, this means doing whatever it takes, regardless of the expense, just to keep the regulator at bay. The trouble is, while this approach may work in the short term, it’s unlikely to stand the test of time when future requirements appear as costs will inevitably shoot up.