Sants rules out lighter regulation for 'good' firms

Speaking at an FSA event in London on the future shape of financial services, Sants batted away calls from the Financial Services Practitioner Panel (FSPP) for rewards for ‘good' firms alongside punishment for the ‘bad'. Iain Cornish, chair of the FSPP, told delegates: "As much as there needs to be punishment of the wicked under the FCA there must be recognition of the good." He added unless a "more collaborative and less adversarial approach" was adopted by the FCA future regulation would represent "some kind of failure". But at a press conference after the event Sants ruled out s...