Banking and Finance: Bearing the burden
The amount of regulation covering businesses has grown enormously in the last few years as layer upon layer of regulation is created to cover every eventuality. Richard Stones asks, is all this just too much?
For regulatory lawyers, the last few years have had a somewhat dream-like quality. From being a comparatively low-level issue, regulation has shot up the agenda. Regulatory advisers are as likely to be talking to the board as to the compliance department. And the Financial Services Authority’s (FSA’s) ability to make or break businesses (or indeed, whole sections of the financial services industry) has become more and more apparent.
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