Canadian financial institutions can gain a competitive advantage by making regulatory compliance a higher priority, according to a new report released today by consulting firm Deloitte.
“Financial institutions are holding themselves back,” the report states, arguing that companies that fail to make compliance a big part of their business strategy miss opportunities. “[Financial Institutions] respond to regulatory change re-actively rather than pro-actively, and don’t often consider its strategic implications.”
Financial institutions face increasingly tough regulations in the post-financial crisis world.
David Hains – Globe and Mail – June 18, 2014.
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