In the Middle of Something
June 29, 2010
Since the financial crisis began, whenever it began, there has been an appetite for declarations that it has come to an end. I have stuck to the line that we are in the middle of something rather than at the end (or the beginning of the end, or the end of the beginning, or whatever), simply because the ramifications of the crisis will quite obviously play out for some years to come.
Confirmation of this was offered, in different ways, at the 2 events we organised last week, a briefing on Thursday by the Director of the Conduct Policy Division at the FSA, Sheila Nicoll; and a briefing on Friday from Alastair Wilson, head of the Financial Institutions Division at the Bank of England.
Sheila Nicoll spoke eloquently about the continuing rapid and momentous change to the regulatory environment, not least at the EU level, where the new supervisory architecture could have big implications for any company operating in more than one member state. And Alastair Wilson provided a thorough analysis of the Bank of England’s most recent report on financial stability.
Taken together, these two presentations illustrate quite neatly the range and depth of the issues facing our industry.”
