The Queen has spoken about "lax" City workers and a banking regulator which "didn't have the teeth" to intervene as she discussed the causes of the financial crisis during a visit to the Bank of England
Her Majesty suggested the financial crisis of 2008 had happened because the Financial Services Authority "didn't have the teeth" to rein in the biggest risk-takers, the Daily Telegraph reports. The Duke of Edinburgh, meanwhile, had a typically blunt piece of advice for the Bank's executives: "Don't do it again!" The Queen and the Duke grilled Bank of England staff during a visit which included a tour of a vault stacked with £27bn worth of bullion. Suit Kapadia, one of the Bank's financial policy experts, said he wanted to answer a question the Queen asked academics at the London Sc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
