Regulation in certain areas of financial services is essential. Here, however, Brendan Llewellyn outlines what he sees as the dangers of the FCA getting involved where it is not needed (or wanted)
Life may be too short to stuff a mushroom, and much too short to read the 78-page Financial Conduct Authority (FCA) occasional paper on behavioural economics. I've done both but I'll focus on the latter. The synopsis is that some consumers are prone to buying rubbish products for dodgy reasons so this might encourage firms who can spot this to build rubbish products to take advantage. And this might be something the FCA would wish to regulate. The highly active FCA chief executive, Martin Wheatley, notes in his introduction that the regulator is now charged with promoting effective co...
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