SPECIAL REPORT

2023 Cost of Compliance

Regulatory burden poses operational challenges for compliance

Thomson Reuters Regulatory Intelligence (TRRI) has carried out its fourteenth annual survey on the cost of compliance, focusing on the challenges that financial services firms around the world expect to face in the year ahead with compliance functions.

The report has become the trusted and acknowledged voice of risk and compliance practitioners worldwide. TRRI’s unparalleled interaction with the global financial services industry — and the frank and wide-ranging issues and concerns shared by practitioners — continues to inform a unique insight into the practical reality and challenges faced.

This year’s survey shows the difficulties that compliance officers are experiencing as they try to plan for the future. Competing priorities are compounded by increased regulatory change, managing cost pressures, growing compliance teams — despite staff turnover and budget restrictions — retaining top talent, and combating low staff morale.

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