Be prepared

Nobody likes change. And it is difficult at the moment to predict where the US is heading next on the regulatory front. But having an enterprise risk management system in place will help banks face the coming market and regulatory challenges. Victoria Pennington reports

Given the still-confusing picture of the changes affecting the US financial regulatory regime, it seems rather premature to claim to fully understand how the changes will affect financial services firms. But what is certain is that change in whatever form is coming, and firms need to be prepared for it. The fact that such large-scale changes are being put forward while the economy remains in recession led one observer to remark that it is "like changing tyres on a car while it is still moving"