Why shackles of regulation threaten fund management

REGULATION

Simon Ellis of Legal & General Investments on why weighty regulation is stopping innovation in the fund management industry.

Regulation is heavy. Like a set of iron shackles, it threatens to deaden the progress of innovation for investment managers in the UK to a slow, clanking thud. If we look at the increased weight of regulation and regulatory agenda over the last two years, and then also look forward over two years, we can say that regulation is now the biggest single driver of our planning and project agenda as an investment house. It soaks up our resources, distracting us from our agenda of voluntarily striving for innovation and improving customer service and communications. Instead, we must expend v...