We might also think about less comprehensive measures affecting SFTs, such as limits on rehypothecation, when an institution uses assets that have been posted as collateral by its clients for its own purposes.6 But I do not think that the post-crisis program of regulatory reform can be judged complete until a more comprehensive set of measures to address this problem is in place.
As illustrated by the PostNord case, the technological development has a large impact on the way we work: In order to be able to gain the full benefits of digital transformation, you must be willing to adjust. In our experience, these consequences can be somewhat mitigated by a flexible labour market.