Whatever happens to the Department of Labor fiduciary rule, the mutual fund industry is moving into a “fiduciary era.” For one thing, investment advisors hope to capitalize on investors’ heightened awareness of the role of a fiduciary. For another, the backlog of regulatory change that must be implemented is large and there are many processes in place that were implemented with time to market not efficiency of execution that need to be addressed.
Besides demanding ever-greater levels of transparency, regulators are also beginning to turn their attention to RegTech, to ensure investment firms have the systems to manage compliance workloads. As we look ahead to a future dominated by financial technology, it’s becoming clear that when it comes to data management, only the fittest will survive. Read more