• Archive for March, 2017

    Prescriptive, “Rules-Based” Regulation Is Key to Enhancing Cybersecurity in Financial Institutions

    by  • March 10, 2017 • Faculty Commentary • 0 Comments

    By Alexander Dill
    Clearing Corporation Charitable Foundation Practitioner in Residence

    There is much debate in the compliance community about the virtues and drawbacks of a “principles-based” versus a “rules-based” regulatory approach in ensuring effective compliance with regulatory obligations. On the one hand, in “principles-based” regulation agencies establish broad but well-articulated principles that a business is expected to follow. There is clarity about the regulatory objective, but not how to design and implement a compliance system that accords with it. (more…)