Small firms spend more on regulation - Deloitte

The report says that, despite greater compliance demands, larger institutions spend on average 4% of their total expense base on governance and compliance whereas smaller companies spend 6%. Chris Gentle, head of research at Deloitte, says: “There appears to be a growing and uneven regulatory burden which may act as a competitive disadvantage to smaller financial institutions.” The study, which examined the costs of 100 of the top financial institutions in the world, also found expenditure on regulation and compliance has jumped 30% to £28bn since 2005 and predicts that figure could hit...