Link: Red tape rage returns
In its annual report, the Financial Services Practitioner Panel – responsible for monitoring the effectiveness of the FSA – said there was a danger that too much regulation would stifle competition and innovation.
The panel’s chairman Donald Brydon said anxiety was growing amongst regulated firms about the number of regulatory reviews and their cost, according to The Times
He said: ‘All concerned need to remain vigilant that in developing regulation, a point of no return is to be avoided where innovation, flexibility and competition are threatened by too much cost and complexity.’
Although he believes the FSA is aware of this danger, he stressed the importance of maintaining a balance so the trust, between the UK regulator and the companies it controls, remains.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements