The Chairman of Financial Services Ireland (an Ireland-based forum body), William Slattery, has warned against a rigid, overly bureaucratic, centralised approach to EU financial regulation policy: ‘Rather than seeking to establish a centralised and expensive regulatory super-structure, the EU should focus its energies on achieving an effective but low-cost regulatory approach based on mutual recognition between Member States.’ The comments came at a recent conference in Dublin, where Slattery also stressed the importance of avoiding ‘knee-jerk’ solutions to corporate scandals. ‘Regulation, that often has a long shelf life, should not be developed ‘on the hoof’. The business environment is becoming increasingly over-regulated. In the European public debate, more regulation is too often regarded as a panacea for all sorts of public policy issues. There needs to be a counterweight to this approach with far greater recognition of the costs of regulation, including direct costs, compliance costs and costs associated with reduced market efficiency,’ said Slattery.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.