I'm off to Number 10
today, to talk about red tape that's constraining disruptive business models in financial services.
In the interests of transparency, I've summarised my thoughts for both the legal community here
, as well as below. I'll be submitting a more detailed paper in the coming weeks, both to the Red Tape Challenge and the BIS Taskforce on alternative business finance
. I'm interested in any comments you may have.
Financial regulation similarly fails to deal with a range of non-bank finance platforms that share some of the key characteristics of Zopa’s person-to-person lending platform. Accordingly, financial regulation is failing to enable the cost efficient flow of surplus funds from ordinary people savers and investors to creditworthy people and businesses who need finance. In particular, the current framework:
To readmore, check out Simon's blog @
Simon's book on financial services reform, Lipstick on a Pig
is now available.