Regulatory Principles and the Financial Services and
Regulation in the UK is undergoing fundamental change.
Dissatisfaction with self-regulation and the self-regulatory organizations
intensified steadily during the 1990's. The failure of regulation to avert
the Maxwell pension collapse and the widespread selling of inappropriate
pension policies were viewed as serious deficiencies of what many people had
already come to regard as inadequate and expensive regulation. The Labour
administration came to office with the clear intention of overhauling and
strengthening the system.
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