Too many regulations may be burdening the financial sector, according to Sir Callum McCarthy, chairman of the UK Financial Services Authority (FSA) in Nassau, in the Bahamas, at the Nassau Conference 2006 in early February. "We have to keep in mind the affect of too many regulatory initiatives," he told attendees in the Bahamas. "You just look at the amount of regulatory initiatives financial institutions face, including Sarbanes-Oxley and now IFRS accounting

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