Fewer capital markets firms see an opportunity to use compliance to create internal value, down from 45% last year to 36% in 2005. Only 29% believe they can create any external value from regulations, down 10% over the last twelve months. Indeed, more respondents than ever before now view regulations as an administrative overhead with minimal benefit to their organisation.
Hmmm. I assigned a reporter to test this proposition the other week--does compliance pay?--and got a case study suggesting the opposite of this result for sell side firms, without the balancing point of view. Could be that it's a matter of apples and oranges: there's SOX compliance and then there's registered rep compliance, after all. Still, it needed to make that point. I had to run it or have a hole on the front page. I'm embarrassed. I hate to have us be seen as not fair and balanced!
Post-mortems: Got to do them. I just have not had time, and have not been able to herd the distributed cats--only about a third of our reporters work in the office--into using a mailing list or bulletin board to talk amongst themselves.
Argh. I suck.