Quote:
Originally Posted by HarryT
The UK actually has some of the most stringent financial regulations in the world
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If that is true, which I doubt, heaven help the rest of the world.
London has become a major financial hub largely thanks to the lax regulation in operation here. The Financial Service Authority is a laughing stock.
And if an investigation into possible corrupt behaviour threatens to get too embarassing, the government can always step in; as they did with the Al Yamamah arms contract when the Serious Fraud Office got too close.
Also, as I understand it, UK companies that want to trade internationally are having to adopt Sarbanes-Oxley standards, which originated in the US and are more stringent than those in operation in the UK.