Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has published the findings of its sixth annual Cost of Compliance survey which revealed that regulatory fatigue, resource challenges and personal liability are expected to increase throughout 2015.
These findings are a reflection of the sheer volume of regulatory change that continues to be anticipated, as firms navigate both international and domestic rules which have global impact with resulting overlaps.
In the Middle East 80 percent of respondents expect the cost of senior compliance staff to increase, up from 57 percent in 2014. It may be that perceived geo-political risk is at least one factor in recruiting and retaining staff in the region. Another factor is the perception that personal liability is expected to increase (84 percent) in 2015.
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Source Credits: Thomson Reuters, BI-ME