The fear of another financial crisis will drive regulatory thinking for the next two decades as the philosophy of light-touch regulation disappears, according to Royal London Asset Management (RLAM).
Chief executive officer Robert Talbut, speaking at a seminar in London today, said the likes of Solvency II, MiFID and the UK's new twin towers regulatory structure are all symptomatic of a more proactive and risk-averse regulatory approach which is here to stay. "Regulators and governments are saying we must not return to the crisis environment again and this will frame regulatory thinking for the next 20 years," he said. "The idea there should be light-touch regulation has disappeared for an extremely long time." He added current regulatory thinking is driven by a desire to "cure th...
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