Companies and financial institutions around the world express strong levels of support for many of the key components of financial regulation reform proposed by governments in the United States and Europe, according to a new Greenwich Market Pulse.
Greenwich Associates surveyed 458 large corporations and financial institutions in North America, Europe and Asia about their opinions on various reform proposals and their assessments of how governments and regulators have performed since the start of the global financial crisis.
The results reveal strong – in some cases surprisingly strong – support for regulatory proposals ranging from the establishment of “systemic regulators” and the mandatory separation of investment banking and commercial banking activities to the tightening of hedge fund regulations and reform of derivatives markets.
“There is a consensus among many of the world’s largest companies, investors and financial institutions that the current regulatory framework has been proven inadequate and must be rebuilt,” says Greenwich Associates consultant John Colon. “However, the results from this Greenwich Market Pulse reveal that while these important private sector entities recognize the need for reform, the details of the new regulations will determine their ultimate reactions. Companies and institutions are willing to support reforms they see as smart, effective and fair, but they are ready to oppose regulations they perceive as overly blunt, broad or politicized.”
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