Top 10 op risks: tighter consumer regulation
The last in our series of top 10 op risks for 2014 looks at tighter consumer regulation. An industry plagued by scandal will now face closer regulatory attention on its retail side
Political pressure for austerity policies, regulatory reform, and revelations of widespread fraud and mis-selling all mean that banks in many countries will face a climate of much more aggressive consumer product regulation in 2014 and the years to follow.
The UK broke up its decade-old regulator, the Financial Services Authority, in early 2013, replacing it with the Prudential Regulation
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