Regulatory changes "driving technology spending"

Asset managers are being forced to increase their technology spending because of regulatory changes to pensions and other markets according to the chairman and chief executive of sofware and services company AFA Systems Mike Hart. His comments came as AFA reported preliminary results for its financial year ended 31 December. AFA, which sells into the banking and asset management markets, faced a tough year as financial institutions went through some severe belt-tightening in the face of protracted economic downturn. But the need to meet regulatory approval is leaving many ...