[CaptainZapp]

The point is not that regulations make the situation better for banks, but for the general public.

I'm also working for a big European financial institution and are directly involved with reporting to the various financial authorities. Granted, this is complex and the worst is that there's very little tolerance for mistakes (each non-reported trade, which is supposed to be reported costs a bank thousands in fines)

But you know what? After all that shit that our employers pulled against society at large in 2007 / 2008 I totally support those requirements.

Yeah, self regulation of the financial industry! What could ever go wrong with that?

edit : Added timeline