Banks fear soaring regulatory compliance costs: industry survey

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Banks are feeling the bite of local and international regulatory reforms, and fear tough new rules could dampen their growth, results of a survey published Monday showed.

The survey of the financial services industry, conducted by the Confederation of British Industries (CBI), a lobby group, and Pricewaterhouse Coopers (PwC), a professional services firm, found three quarters of respondents expected to spend more on regulatory compliance in the coming year than in the past three years. "There is

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