UK financial services regulatory concerns at all time high

The profitability of financial services businesses improved for the third quarter running, according to the latest Confederation of British Industry (CBI) and PricewaterhouseCoopers (PwC) Financial Services Survey. Going forward across all sectors, a balance of 48% of firms expects a rise in business volumes in Q2, the most positive expectation since March 2006 (+58%), according to the survey. On the downside, concerns about the legislative burden is at an all time high in the industry, with spending on compliance expected to rise sharply over the next 12 months. A record 74%  of c...