There was a very interesting post last month on RiskCenter regarding acceptance of potential government oversight and regulation for companies and financial institutions. The article highlights findings from a large survey, 458 respondents, of corporations and financial institutions in North America, Europe, and Asia. The survey found that there is a surprising amount of acceptance for government regulation in the financial services space worldwide. From the article (full article here, free subscription required for access):
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.”
Our immediate gut reaction to this data is that software tools and BI tools in particular would play a dominant role in providing for and executing these changes if implemented. However; which BI tools? From what vendors? Based on what standards? Would these “systematic regulators” be involved (read: required) certain BI tools to perform their duties? What about security, reporting, localization? Oh my! There are a lot of moving parts to these proposals and any of them will likely take time to implement. We will keep a close eye on developments surrounding these proposals and report back here. Please let us know your thoughts on these proposed government regulations and how it could affect your BI infrastructure.
Bill Peterson
Spotfire Blogging Team
