Having worked in a lot of banks, I can appreciate the desire for standardization. But remove competing standards, and you will never innovate again. In any situation, whatever standard you prefer, it was originally created as a new-comer competing standard.
I think this perspective is very narrow minded, in the sense that it only really considers a very narrow category of problem. If you want regulations to be more effective, you need to bring the regulators closer to the people they’re regulating, not further away from them. If that means people end up doing things differently, fine. It’s better than having regulations the either work for nobody, or only a portion of all people. For an analogy, who would you rather be managed by, a manager with 4 direct reports, or a manager with 50 direct reports? (Or a manager with 7,500,000,000 direct reports...)
I think this perspective is very narrow minded, in the sense that it only really considers a very narrow category of problem. If you want regulations to be more effective, you need to bring the regulators closer to the people they’re regulating, not further away from them. If that means people end up doing things differently, fine. It’s better than having regulations the either work for nobody, or only a portion of all people. For an analogy, who would you rather be managed by, a manager with 4 direct reports, or a manager with 50 direct reports? (Or a manager with 7,500,000,000 direct reports...)