The Pragmatist on the need for early warning banking systems

Written by Simon Deane Johns Saturday, 11 August 2012 14:51
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Last year I cheekily suggested we should allow financial regulators to short-sell the stocks of companies that are subject to the slow grind of enforcement action.
Refreshingly, the Treasury seemed to acknowledge such concerns and the Financial Services Bill includes a power for the Financial Conduct Authority to disclose that a warning of enforcement has been issued to a firm - a so-called 'early warning notice'.
The Standard Chartered 'wire stripping' saga provides an excellent illustration of the issues.
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