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[perfectpullquote align=”full” cite=”” link=”” color=”” class=”” size=””]Leaders responsible for making value-driven decisions to deal with growing regulatory reporting requirements need to consider applying new tools and solutions to improve their entire reporting processes.[/perfectpullquote]
rying to do more with less usually leads to increased errors, exposing organizations and their leadership to penalties coupled with even more regulatory scrutiny. In fact, penalties and fines sought by regulatory authorities are at all-time highs and are likely to continue to rise in the absence of systemic changes. This concern was further reinforced by the 2015 Federal Reserve regulatory reporting survey by Ernst & Young, Regulation now: the new standard and how firms are adapting, which found 40 percent of regulatory reporting departments at large banks and financial institutions perform an excess of 500 manual adjustments to regulatory reports.