Stephen Franks is sceptical about the new financial markets super-regulator announced this week:
But most of the stuff on the FMA is the political equivalent of corporate changes of letterhead and livery, until proved otherwise. Sometimes it signifies a genuine transformation. More often it is instead of genuine change. We won’t know till we see the detail.
I think the presence or absence of ‘Plane’ Jane Diplock, arguably our worst performing civil servant of the decade will be an indicator of the efficacy of the new organisation. Also, I told myself that next time I posted something in the finance category I’d link to this: