Tips to Overcome Challenges of Regulatory Impact Assessment
Regulatory Impact Assessment (RIA) is a critical tool for evaluating the economic, social, and environmental effects of regulations in the financial sector. It ensures that regulations are effective, efficient, and equitable while minimizing unintended consequences. However, implementing RIA in the financial industry has significant challenges, including complexity, data limitations, stakeholder engagement, and balancing regulatory goals with industry growth. Overcoming these challenges requires a strategic approach, integrating innovation, collaboration, and robust frameworks.