Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
China expert warns spy balloon hovering over US ‘not leading in a good direction’ February 3, 2023
Russia’s Sberbank plans to launch DeFi platform on Ethereum February 3, 2023
AUD/USD: Aussie can benefit from the most resilient real growth in G10 – SocGen February 3, 2023
Goldman Sachs raises emerging markets equities forecast February 3, 2023
Gold steadies near 9-month high February 3, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Markets

City regulation: the 2008 crisis casts a long shadow

Staff by Staff
December 11, 2022
in Markets
0 0
A A
0

Over-stringent banking regulation fosters the stability of a graveyard. UK Chancellor Jeremy Hunt has embraced that argument, made by his predecessor George Osborne a decade ago. On Friday, he unveiled plans to reform more than 30 measures, including some that Osborne introduced. The package is intended to perk up the financial sector. There are dangers all the same.

Some proposals are undeniably welcome. Loosening the EU-imposed Mifid II restrictions might boost analysts’ coverage. The measure had the unintended consequence of making equity research less economic. That was illustrated by last month’s tie-up between AllianceBernstein’s research division and Société Générale’s cash equities business.

The merits of other proposals are debatable. Take the senior managers regime, which holds top executives to account for failings on their watch. Bankers complain that it makes recruitment harder and an onerous approval process leads to delays. Yet few penalties have been issued.

It would be better to enforce the principle of accountability strictly rather than abandon it.

Likewise, any mooted changes to bank ringfencing should be modest. Refinements that would exempt small retail banks might well boost competition. But the rules are in place to prevent future bailouts. Anything other than minor tweaks would be a mistake.

Thankfully, the government has dropped its plan to create a power to intervene in regulators’ decisions. Politicising regulation would damage stability and competitiveness. Yet it wishes to change the watchdogs’ mandate to include the secondary objective of facilitating international competitiveness and economic growth.

Of course, a well-designed regulatory regime will support economic expansion. But to make competitiveness an explicit goal is wrong. It increases risks of regulatory capture and puts the City watchdogs in a conflicted position.

A worrying precedent exists. The Financial Services Authority, the regulator in charge in the run-up the financial crisis, also had to consider the UK’s competitiveness. What followed was an unforgettable lesson about the downside of this approach.

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Forex

AUD/USD: Aussie can benefit from the most resilient real growth in G10 – SocGen

February 3, 2023
Stocks

Goldman Sachs raises emerging markets equities forecast

February 3, 2023
Futures

Gold steadies near 9-month high

February 3, 2023
Forex

USD/CAD sticks to intraday gains above mid-1.3300s, US jobs report (NFP) looms large

February 3, 2023
Stocks

Kevin Binder to become CFO of Daimler Greater China Ltd

February 3, 2023
Markets

European stocks and US futures slip after week-long rally

February 3, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.