Does the cost of regulation outweigh the value?

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Does the cost of regulation outweigh the value? Nick Bamford Chartered Financial Planner

Transcript of Does the cost of regulation outweigh the value?

Page 1: Does the cost of regulation outweigh the value?

Does the cost of regulation outweigh

the value?

Nick BamfordChartered Financial Planner

Page 2: Does the cost of regulation outweigh the value?

• LAUTRO• FIMBRA• PIA• FSA• FCA

Page 3: Does the cost of regulation outweigh the value?

• A brief history of regulation…

• 1988• 1995• 2012• 2016• 2065

Page 4: Does the cost of regulation outweigh the value?

• FCA• FSCS• FOS

Page 5: Does the cost of regulation outweigh the value?

• FCA £519m• FSCS £363m• FOS £253m

• Total £1.135bn

Page 6: Does the cost of regulation outweigh the value?

• Who pays for regulation?

• I do!• My clients do!

Page 7: Does the cost of regulation outweigh the value?

• Regulation is…

• Expensive• Ineffective• Mushrooming

Page 8: Does the cost of regulation outweigh the value?

• Five solutions…

• Reduce scale of FCA• Switch FSCS to product levy• Publish qualifications of FOS

staff• Create a self-regulating

professional body• Abolish RMAR

Page 9: Does the cost of regulation outweigh the value?

• Does the cost of regulation outweigh its value?

• Yes!


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