Tags
banks, Europe, fca, fines, regulation
http://nr.news-republic.com/Web/ArticleWeb.aspx?regionid=4&articleid=31674775
We may know in the morning or by early next week, but it appears UK charities are set for another windfall which no doubt will come as a pleasing bonanza ahead of Christmas.
However, one can only hope that resources will also be invested in better policing of the industry to ensure Libor, forex and other areas abused will grow in a healthier way in future.
For very long there have been accusations that regulators are under-resourced and merely feeding a culture of evasive abuse by a minority who give the City a bad name.
Moreover, it’s worrying that Britain continues to be a society which punishes rather than encourages good behaviour.
Bankers are not evil. They can err by design not by default. If regulators had a better grip on reality in financial markets and did more to incentivise good practices there would be fewer fines.