Fund managers face explosion of regulation costs

The European fund management sector is predicted to be spending between US$900 million and US$1.5 billion in regulatory and compliance costs over the next three years.

24 September 2013

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A survey by BNY Mellon shows compliance needs rising substantially in order to comply with regulation that was introduced in response to the financial crisis that started in 2007/08. Daron Pearce of BNY Mellon told The Financial Times: 'Between 2000 and 2010 there was a really good erosion in costs as people made a number of logical steps to get spending under control. Now with the full force of the anticipated regulatory agenda from Europe kicking in, that is driving costs back up.'