Cost to comply set for big rise

 
Ben Southwood
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COMPLIANCE costs are set to explode under the UK’s incoming regulatory regime, which is planned to come into action in early-to-mid 2013, according to a survey by consultant Protiviti.

Half of those polled – all senior compliance professionals at financial services firms – said that their employer’s costs of fulfilling regulators demands would rise by up to 20 per cent. More than one in 10 thought they would rise even more.

Sixty-two per cent said the move made the UK a less attractive place to do business.