Research shows scale of regulatory 'revolving door'
New research shows that the 'revolving door' is active among top regulators, but does it really have the deep impact on regulatory independence its detractors suggest?
In 2008, supervisors in many countries largely failed to predict the scale of the financial crisis, and then failed to deal effectively with its consequences. The reasons why have been under scrutiny ever since – including the degree to which regulators were "captured" by the industry they were supposed to be supervising. An example of this, it is suggested, was the 'revolving door' between industry and oversight: regulatory agencies dominated by former bankers, and senior regulators leaving for
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