No amount of regulation would prevent the ‘mad, bad and seriously stupid,’ said Angela Knight, chief executive of the Association of Private Client Investment Managers.
‘Regulators’ reactions to recent financial scandals need to be rebalanced against the cost to innocent firms and their clients,’ she told the association’s annual meeting on Thursday.
‘The cumulative cost of regulatory changes is adding significant costs to financial firms which are completely out of proportion with their ability to protect against fraud,’ she warned.
‘Increasing requirements and red tape as the result of the actions of the few serves simply to add costs to all sensible firms and their customers.’
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.