Gaining new authorization under President Barack Obama’s administration in 2009, financial services regulators will likely transform this sense of empowerment into a broad array of new rules and agencies, as well as stepped-up enforcement actions in 2010, according to regulatory compliance experts at Wolters Kluwer Financial Services, a provider of compliance, content and technology solutions, and services geared toward risk management.
As Congress debates additional legislation surrounding regulatory reform, and regulators conduct more stringent exams, the insurance and financial services industries are already feeling the effects. Adding to this regulatory burden, experts say, will be a soft U.S. economy that will likely lead many institutions to take more steps to better protect themselves and consumers from risk.
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