FSA critic Eamonn Butler: the whole thing is a disaster

The Financial Services Authority officially handed over the regulatory reins to the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) on 1 April. We asked Eamonn Butler, head of the Adam Smith Institute, for his views on the FSA’s legacy, what he thinks an ‘ideal’ regulator would look like, and to consider what the FSA might do differently if it had its time again… Q You’ve criticised the FSA in the past. What is the problem with regulation? There needs to be some kind of regulator in financial services because you can’t really judge the quality of long-ter...