Abstract
In the aftermath of the financial crisis, the financial sector was hit by a tidal wave of new legislation. This contribution examines the often neglected question of how financial institutions can remain compliant with this ever expanding financial legal framework. Particular attention is given to the potential of systematization to ensure abidance with the law. Systematization indeed holds the promise of considerable gains in terms of increased efficiency and reduced risk of individual errors and liability in this context. On the other hand, the author identifies considerable disadvantages of systematization, such as its high costs, the problematic side-effects of “dehumanization” and new types of systemic risk. As systematization nevertheless seems to be one of the very few answers to the compliance challenge, the author presents several strategies to remedy or reduce each of these disadvantages.By way of conclusion the interaction between regulation, compliance and supervision is re-examined, underlining the crucial role of financial supervision as an intermediary between legislator and financial institutions.
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