The views and opinions expressed in this article are those of the thought leader as an individual, and are not attributed to CeFPro or any particular organization.
By Jeff Simmons, Chief Risk Officer, MUFG Securities (Europe) N.V.
How has COVID-19 further impacted profitability in an already heavily regulated environment?
That is a good question, but it depends really on how you view COVID-19 as a barrier to business. Regulated environments tends to be disruptive to business as a result of increased costs, be they upfront in implementation or continuing through costs of compiling. COVID-19 didn’t do that, sure there were some bumps in the road at the beginning and a lot of volatility, but these are “normal” for financial markets. Our profitability from a financial perspective was not impacted much at all to be honest, it is the human cost that has seen the most deterioration.