17  On the risks posed by the asset management industry, but also on the opportunities that asset management offers, see ‘The age of asset management?’, speech by Haldane, AG, at the London Business School, London, April 2014.
18  See, for example, Procyclicality and Structural Trends in Investment Allocation by Insurance Companies and Pension Funds, A Discussion Paper by the Bank of England and the Procyclicality Working Group, July 2014. 7  The regulatory agenda is crowded and is moving fast. Andy has greatly contributed to shaping it in the past.