Intelligent surveillance - the death of random review?

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Every financial institution today is at the mercy of constantly changing regulations. Each new mis-selling or market abuse scandal brings with it a tightening of the rules: whether it is a major shift like the introduction of the Sarbanes-Oxley Act and the Basel II Accord, or the cumulative effect of successive administrations and regulatory regimes adding new sections and clauses to existing regulations.

In a survey of board directors of US public companies conducted by Directorship Search Group and RHR International, the cost of compliance with Sarbanes-Oxley alone was estimated at $16 million per company per year. In 2007, Basel II comes into force and introduces new regulations for ...

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