A frustrated fellow IFA posted the other day: ‘So, while JPM and HSBC are laundering £billions for dodgy Russians. the FCA have sent yet another survey to check my business is financially sound’. It can appear that the regulators avert their eyes from more complex issues to pluck the lower hanging fruit. It’s still, I’d posit, more difficult to pay £50 into and ISA than to pay for a flat in Mayfair from a Cayman Islands bank account. Or have a game of tennis with a prime minister.
“Banks fined €1bn by EU for currency rigging”
Bank deregulation was another great, '80's idea, as a result of which many a pigeon is still coming home to roost. Your friendly, high street retail bank (now a wine bar or pizza joint) was suddenly able to become a merchant bank/stockbroker/forex trader/financial...
