Panacea urges Fallon to ditch needless financial services regulations

Fallon announced what he described as "a bonfire of regulations" on Monday. He wants to scrap 3,000 regulations by the end of the year. He told Sky's Murnaghan programme: "Privatisation [and] deregulation did work in the 80s and 90s. You have to do what you can to free up business." He has also said that the current regulatory approach of one in, one out only limits new regulation, there's far too much existing regulation: pointless annual checks, box-ticking that small firms have to pay consultants for, repetitive checking of certificates, and more." In a letter sent to Fallon thi...