Ask any licensed financial entity and they will tell you of the burden with respect to compliance that stems from regulation. It’s overwhelming, to say the least.
Financial regulators publish a series of laws (read: regulations) that have to be enacted on the entities that are being regulated. No matter what territory you decide to pick as an example: the US, Canada, a country in the EU, a developing country such as Pakistan or Peru, financial regulations are a nightmare to deal with. In most cases, regulations are legal logic committed to paper. Read more: banknxt.com
