New regulations finalized in 2015 will cost the financial services industry $9.4 billion and consume 14 million hours of paperwork, according to a new analysis by the American Action Forum.
Most costly of the 16 final rules included in the analysis is the interagency rule on margin and capital requirements for covered swap entities at $5.2 billion, followed by the Securities and Exchange Commission’s requirement to disclose the ratio of CEO pay to median employee pay at $1.8 billion and the Consumer Financial Protection Bureau’s expanded Home Mortgage Disclosure Act data collection at $1.3 billion.
