Tuesday, 29th September 2015
Chris Porter recently carried out an in-depth FreePint product review of regulatory tracking service Thomson Reuters Regulatory Intelligence. We ask him how it fits within the context of ever-increasing pressures on companies to remain compliant with ever-changing legislation.
Readers who remember the FreePint Topic Series "Compliance in Context" in late 2013, and the follow-up series "What You Need to Know Your Customer (KYC)" in 2014, will know that the burden of complying with regulatory requirements around the world has not been an easy one.
As part of our regular look at compliance and risk products, we asked FreePint contributor and expert in business and financial research, Chris Porter, to tackle a review of the new Thomson Reuters Regulatory Intelligence platform.
Burden of Complying with Regulatory Requirements
Chris explains, "I was interested to review the new Regulatory Intelligence product - Thomson Reuters does a great job of tracking the increasing challenge of complying with regulatory requirements. Its latest annual survey of the cost of compliance quizzed almost 600 compliance professionals around the world and found that 70% were expecting regulators to publish even more regulatory information in the next year, with 28% expecting significantly more.
"Over a third of respondents said their firms spend at least a whole day a week tracking and analysing regulatory change and over two-thirds said they expected their total compliance team budget to be increasing in the current year - with 19% expecting a significant increase."
Against this backdrop it is no surprise that Thomson Reuters is investing in further developments to its regulatory tracking services.
New Platform: Thomson Reuters Regulatory Intelligence
The company has now brought out a completely new platform, Thomson Reuters Regulatory Intelligence, which serves as the upgrade path for Compliance Complete (which Chris reviewed in autumn 2013) and will also, in future, be the delivery platform for a number of other specialised Thomson Reuters regulatory tracking services.
When he reviewed the Thomson Reuters Compliance Complete service in 2013, Chris "was impressed with its wide range of coverage and pinpoint searching, but noted that the user interface look and feel was a little "previous decade" and found that similar functionality was not always consistently presented at different points in the service", so he was well-placed to tackle the review of the new platform.
FreePint Subscribers can log in now to view the Product Review of Thomson Reuters Regulatory Intelligence, read Chris' detailed analysis of the new service and see how it compares with Compliance Complete.
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