Simon Ellis: 'Innovation and technology likely to be far more significant drivers of industry evolution than regulatory changes'

With technology shaping the industry at breakneck speed, regulators must adapt to such changes to provide better oversight and lower costs, writes Simon Ellis, global head - client segments at HSBC Global Asset Management.

If we were asked to name the key driver of the industry over the past few years, most of us wouldn't hesitate to say regulation, with the Retail Distribution Review (RDR) in the UK, further Financial Conduct Authority (FCA) iterations since, or MiFID II.  Fund providers, distributors and many others have been focusing their efforts towards adapting to and complying with the new requirements, particularly in terms of business risk management. These issues have taken up a lot of column inches over the years, but a lot less has been written about a strong undercurrent which has been deve...