Gartner: More Sarbox-like regulation coming

Speaking of the possible new regulation to stem from the pyrotechnics on Wall Street, "the shadow will be longer than Enron, Sarbanes-Oxley, HIPAA, or any other regulation of modern times," said John Bace, VP at Gartners, to 300 CIOs. That's a pretty strong statement. I think it likely we'll see something in the wake of the credit meltdown. Hopefully, banks will have built scaleable compliance programs that accommodate new regulations. This is where your foresight can really pay off. Some people are calling for a complete overhaul of financial regulatory system. Some would scrap even the upcoming Basel II. We'll hear a lot about this going forward. The financial services industry should anticipate great change over the next few years.   

For more:
- here's a CRN article
- here's a look at how the rules ought to change in the Wall Street Journal