Let’s hold our hands up

Victoria Pennington

It feels like the whole of the financial world is being engulfed in a regulatory tsunami at the moment. Although the financial industry fully expected politicians and regulators to clamp down on some of the more wayward practices following the worst financial crisis in a century, it is doubtful whether they could have foreseen the outpouring of legislation threatening to close down markets, re-establish the Glass-Steagall Act and impose a banking levy on all financial institutions. EU rules a

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