Policing the city: Lawyers predict a menu of confusion after Chancellor re-slices the cake
Lots of huffing and puffing from 'experts' without any offers of alternative solutions. I agree that yet more upheaval and uncertainty leaves us wide open to more of the same but while there is nothing like perfect regulation, to date we have not seen anything like perfect regulation. Unfortunately it is the lawyers who cause the problems by drafting up the flawed legislation which empowers the regulators, then we have individual regulators who couldn't catch a pig in a poke because they are financially and intellectually outgunned by the ones they are asked to supervise, they argue that they don't have the necessary 'tools' which again is down to this flawed legislation.
Until financial services is regulated from the bottom up instead of the top down we will be going in ever decreasing circles.
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