JWG’S Latest Report Highlights Costs of Lack of Risk Data Consistency

A preliminary report by London-based regulatory think-tank, JWG, entitled "Strong Foundations for Regulatory Reform?", highlights the need for regulatory data standards definition to avoid immense economic implications. The report suggests firms that fail to establish a consistent data management plan may face huge costs down the line, and states initial studies suggest it will be in the region of $390 million per firm over the next five years.

The report also explores to what extent the industr