ABI sees principles of regulation working

Noting the growth in regulatory red tape in recent years, Haddrill puts this down to people being richer and more healthy, and becoming more risk averse as they increasingly only “want the best”. He congratulates the FSA on its move to a principles-based environment as a better way of dealing with such customer demands, without strangling the industry in further red-tape, but also calls for further changes. For example, Haddrill says restrictions on the FSA promoting competition - put in place when it first took up its role - should be reviewed. He adds “not everyone is comfortable...