UK: the future of banking regulation - speech by Hector Sants

The chief executive of the Financial Services Authority, Hector Sants, delivered an interesting speech yesterday on the subject of banking regulation: see here. Of particular interest was what he said regarding the trade offs that will need to be considered by policy makers, and also the new regulatory authorities, with respect to various policy objectives. Mr Sants also took the opportunity, as he has frequently done, to note that the FSA and the new regulatory authorities operate as an extension of the broader European policy-making framework.