The Queen has spoken about "lax" City workers and a banking regulator which "did not have the teeth" to intervene as she discussed the causes of the financial crisis during a visit to the Bank of England.
Her Majesty suggested the financial crisis of 2008 had happened because the FSA "did not have the teeth" to rein in the biggest risk-takers, the Daily Telegraph reports. The Duke of Edinburgh, meanwhile, had a typically blunt piece of advice for the Bank's executives: "Do not do it again!" The Queen and the Duke grilled Bank of England staff during a visit which included a tour of a vault stacked with £27bn worth of gold bullion. Suit Kapadia, one of the Bank's financial policy experts, said he wanted to answer a question the Queen asked academics at the London School of Economics ...
To continue reading this article...
Join Investment Week
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
