Regulatory reform hampering financial product innovation
Heightened regulatory constraints and strengthened enforcement actions may be holding back financial innovation and risk-taking, regulators admit
Supervisors and bankers voiced their anxiety over the unintended consequences of regulation at a banking conference in London last week, calling for deeper reflection and cost/benefit analysis of the current framework.
"We have probably become hooked on it," admitted John Griffith-Jones, chairman of the Financial Conduct Authority (FCA), speaking of regulation at the British Bankers' Association's annual banking conference. He argued that a lot of progress had been made in the last two years
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