The best thing that regulators can do for financial institutions, short of issuing fewer regulations, is to make the regs simpler and compliance methodologies clearer, say respondents to a recent survey from Minneapolis-based global consulting firm Wolters Kluwer Financial Services.

According to the firm’s November Regulatory & Risk Management Indicator, banks and credit unions want more guidance from regulators and have grown more concerned with their own ability to manage compliance obligations and risk. Nearly 80% of respondents showed significant concerns about staying abreast of regulatory change and complying with regulator demands, compared to slightly more than 60% of respondents showing similar concern levels when the company surveyed 400-plus financial institutions in January.

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