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Very good stuff here Kathleen and i tend to agree with much of this. I do think that as an industry (If we can call regulators part of the industry) are being far to simplistic in finding solutions to the many and various problems.
As we all know this industry is very complex in its design and its products and in many cases illogical and in some cases protectionist and in all cases over regulated. All this means if you change one thing you tend to change everything but not necessary
in the order of process.
We are all aware of the huge problems being confronted and we all buy into the laudable objectives of politicians and regulators. Its just that "they dont know what the do"
Its really up to the finance industry to stand up and fight against what is wrong but also promote and introduce what is right
I am coming more to the conclusion that we simply dont have the right people in the correct positions able to apply the correct solutions. Consequently we meander along and lurch from one crisis to another upon one failed solution to another all the while
increasing the problems
A more acdemic and sceintific aproach away from political and regulatory is needed where changes can be introduced after a comprehensive research of unintended consequences that may transpire from any change
25 Sep 2002
This post is from a series of posts in the group:
The Post Trade Forum's aim is to propagate debate and discussion between senior practitioners in Post Trade Operations in the global securities market; to bring about increased awareness and knowledge across both buy-side and sell-side financial institutions in financial products and be a focal point for firms and practitioners to air views.
11 Sep 2020
31 Mar 2020