The Trouble With One-Size-Fits-All Regulation

Douglas Flint, chairman of HSBC Holdings, has added his voice to the chorus of complaints about the burden of regulation. He said “the demands now being placed on the human capital of the firm and on our operational and systems capabilities are unprecedented. The cumulative workload arising from a regulatory reform program that is unfortunately increasingly fragmented, often extra-territorial, still evolving and still adding definition is hugely consumptive of resources that would otherwise be customer facing.”