The perils of over regulation

Survey after survey of leading bankers reveals a belief that excessive regulation is harming their business more than anything else. We speak with Jeremy Scott, global leader of PwC''s financial services group about the stranglehold that regulation has

Are banks over-regulated these days

They certainly think so and I think they have a point, particularly if they're operating in many countries. Some of it is self-inflicted. Some of the regulations are a response to things going wrong. Regulations get passed when something goes wrong to stop it happening again. Things have gone wrong because businesses weren't managed well enough.

If a small minority of businesses in America hadn't done what they did, we wouldn't have Sarbanes Oxley, which is one of those generic pieces of regulation that US-registered banks and financial institutions have to comply with. Banking is a regulated industry and on top...

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