2019 FinReg Outlook: The Calm Before the Storm

Weathering the Next Regulatory El Niño While it is impossible to predict the severity and impact of an El Niño, it is possible to forecast when one may occur. All signs point to another regulatory El Niño building up in the near future. It seems unlikely that the next regulatory El Niño will be as severe as the last one. Nevertheless, it is important that asset managers keep their focus on tracking the evolving regulatory debate and continue to engage with policymakers during the consultation periods. Having weathered the great reregulation, the industry is better prepared to deal with the next regulatory El Niño. Most firms have elevated the regulatory change function within their organizations and now consider the operational, compliance, and strategic implications of new regulation more holistically. Firms should ensure their operations and systems are ready for the next round of regulatory change to position themselves to take advantage of potential opportunities for new products and solutions. 10   Custody and Fund Services Sean Tuffy Head of Market and Regulatory Intelligence Custody and Fund Services sean.tuffy@citi.com