Fund management chiefs call for Keydata inquiry | News | Money Marketing
There is no substitute for effective supervision, an ability to spot 'trends' early on and the the gumption (inc. powers and tools?) to move quickly.
To date the regulators have had limited resources aimed at perceived risks, they haven't had the correct tools for the job nor have they employed people with 'native' intelligence. They are like bomber pilots, they never see the full scale of the damage caused because they are too far away from the action.
Unfortunately I don't see much change happening under the FCA, I may be wrong but the future of regulation doesn't look too clever, if Mike Fenwick says it isn't going to work then I will agree wholeheartedly.
This should be built from the ground up.
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