The document summarizes the results of a survey of 173 middle office executives at banks on the impact of regulation and technology trends over the next 5 years. Key findings include: 1) Data privacy is the top regulatory concern for middle offices, and over 3/4 expect regulation to significantly impact their revenue models or business; 2) Technology skills are seen as the biggest obstacle as banks transition to more technology-driven businesses, though middle offices expect to learn new skills and automate tasks; and 3) While regulatory compliance is currently a budget priority, middle offices expect future investments to focus more on market expansion, disruptive technologies, and customer experience as the role of the middle office changes.