It's an interesting balancing act with the UK wanting to be seen as thought leaders without crippling international competitiveness in other areas like remuneration.

Stuart King

Categorized in : Company News

It will be quite a shock in process terms to asset managers and brokers. They will have to say who is responsible for what and keep that up to date, reflect it in appraisals and staff training, after what happened with the Libor and forex scandals, very senior people were not held to account but this will make it a lot easier for the regulator to go up the line.

The old SROs were seen to have had a mixed history. It's clear that if the new body cannot do better more regulation will be unavoidable.