Coping with a major regulation overload



At the recent TISA conference the shadow treasury spokesman Lord Eatwell said currently there is one regulator for every 800 people who work in the City of London. He estimates about a decade ago there was one regulator for every 10,000-11,000 people who worked in the City.

Of course, there has been a reduction of people who work in the City – a drop of about 200,000 since the Lehmans collapse, but even these figures show quite clearly one thing. There has been an extraordinary increase in the number of regulators and the amount of regulation that goes with it. And to what end? Well, since the collapse of Lehman Brothers any number of things have happened. The most high profile of which has been the UBS rogue trader. As one of the world’s largest banks, UBS, like its peers, has been subjected to volumes of new regulation. What we have seen over the last few...

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