Impact of regulatory reforms on the security transaction chain

Abstract

2012 was set as a deadline for the release of many legal pieces of work engaged in at the post-crisis G20 in 2008. These reforms take on an unprecedented dimension because of the number of actors affected and the huge scale of the changes proposed. Despite tremendous commitment and efforts (thousands of pages of new regulations worldwide and additional consultations under progress), a number of initiatives are lagging behind. A series of factors interfering with the global legislative process are revealing unexpected complexity. This paper analyses these factors and questions the challenges and opportunities involved for the industry in the future environment.