Blog: Compliance spending must be protected

REGULATION

As the sun came out over the UK, two major financial services surveys also appeared to offer some much needed brightness out of the gloom that was the second half of 2011.

A quarterly survey from the CBI and PwC noted a sudden improvement in business sentiment among investment management groups, with the majority expecting growth to continue for the rest of the year. Obviously, rising markets and improving sentiment had given a much needed boost and managers felt more optimistic they were starting to surface from the eurozone-induced crisis. Firms are also set to benefit from cost-cutting measures many were forced to undertake as the worst of the crisis took its hold. Lower operating costs mean the majority of investment managers see their profitability...