FCA facing regulatory ‘overload’, Treasury committee chair warns

[charitynjw]

http://www.moneymarketing.co.uk/fca-...=mm_daily_news

Treasury committee chairman Andrew Tyrie has warned the FCA and the Bank of England are facing “overload” and says regulators could be powerless in preventing the next financial crisis.
Speaking during a debate on the Financial Services Bill on Monday, Tyrie said the Government’s legislative agenda – including the pension freedoms and the introduction of the senior managers regime next month – is placing “huge demands” on both the Bank and the FCA.
He said: “We may be close to the point of regulatory and supervisory overload. By that, I mean that the Government and Parliament could be raising expectations of what they can achieve to a point where they will never be perceived to have succeeded.
“We need to ask just how much national regulation can achieve in an open financial world. The truth is: perhaps not that much, and certainly less than many people think.”...........................

[Sparkie1723]

Re: FCA facing regulatory ‘overload’, Treasury committee chair warns

http://www.moneymarketing.co.uk/fca-...=mm_daily_news

Treasury committee chairman Andrew Tyrie has warned the FCA and the Bank of England are facing “overload” and says regulators could be powerless in preventing the next financial crisis.
Speaking during a debate on the Financial Services Bill on Monday, Tyrie said the Government’s legislative agenda – including the pension freedoms and the introduction of the senior managers regime next month – is placing “huge demands” on both the Bank and the FCA.
He said: “We may be close to the point of regulatory and supervisory overload. By that, I mean that the Government and Parliament could be raising expectations of what they can achieve to a point where they will never be perceived to have succeeded.
“We need to ask just how much national regulation can achieve in an open financial world. The truth is: perhaps not that much, and certainly less than many people think.”...........................

Simple answer is......... get rid od the Banks and get back to" keeping yer pounds in yer pocket
Sparkie:tinysmile_twink_t2::tinysmile_twink_t2:

[meellis]

Re: FCA facing regulatory ‘overload’, Treasury committee chair warns

We may be close to the point of regulatory and supervisory overload. By that, I mean that the Government and Parliament could be raising expectations of what they can achieve to a point where they will never be perceived to have succeeded.
I think by the way they deal with things they have probably got to this point a long time ago, if the various governments had dealt with things sooner there wouldn't have been such a need now.