United Kingdom

Details

  • Industry: Financial Services
  • Type: Video
  • Date: 11/11/2011
  • Length: 2:00 Minutes

Getting to grips with global regulation in a global market 

Getting to grips with global regulation in a global market:

 

The financial services sector in the UK is actually quite a unique beast, it's very different to anywhere else in the world. Because the UK, London in particular, is a leading financial services city, it's not driven by the UK economy, it’s actually driven by the world economy. We have over a thousand financial institutions here and very few of them are actually from the UK.

 

The financial sector is experiencing a chaotic and uncoordinated wave of regulation, all the way from the G20, to the United States, the Volcker Ruling, it's coming from all angles. But it's pointing all in the same direction-  banks are going to have to be subject to a greater level of scrutiny, with more capital, greater sources of funding, and fundamentally changing the way they do business.

 

Clearly, in this market, our clients need our help more than even before. Here at KPMG, we're at the very centre of a lot of these changes.  So many of these changes are being driven by regulation, and not just technical regulation, accounting regulation and political regulation. That very much plays to our core strengths, and that's why we have a competitive advantage- we can really help our clients.

 

We take a sector approach to the market place and I think that's a key differentiator for us. We've cultivated that to another level now, where, our breadth of client service base globally - from an advisory, tax and audit perspective - is second to none.

 

We are able to bring our people, from all over the world, from all our different multi disciplines to you, in a much, much more holistic and seamless way.