Steve Young: RDR just a 'staging post' before more regulation

STEVE YOUNG

Nicola Brittain
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In this blog, Sense Network's commercial director Steve Young argues that for the Financial Conduct Authority (FCA) to achieve its end goal of improving customer outcomes, it will inevitably need to intervene further in the financial services market.

"Sometimes in life you have to look beyond rules, norms and custom in order to see clearly why we do things the way that we do. For the first few years of the M1, there were no speed limits, probably because most cars of the era were simply not capable of very high speeds. It was a series of high profile incidents involving powerful cars conducting speed tests which finally alerted the government to the dangers of the growing motorway system and the 70mph limit was born. The origins of financial conduct regulation lie in mis-selling scandals of the 1980s and the subsequent Gower re...

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