How does the mind of a regulator work? In a variety of ways, is the answer. Motivated either from pressure being forced down by their political bigwig bosses or from consumer protection being forced up by vulnerable and infirm investors, the regulator - everybody's modern-day favourite middle man - has to balance his constituents with care.
The upshot can be simplified as follows. The prevailing tone will be either one that requires tremendous attention to detail in the disclosure of all element