New ideas, new products, new ways of doing things, all, of necessity, raise the riskiness of any organization, riskiness for which regulators have a profound aversion. Yet since the value of all wealth reflects its future productive capabilities, all wealth creation rests on uncertain forecasts, which means every investment is risky. Or put another way, you cannot have wealth creation without risktaking.
The aim would be to ensure sufficient regulatory and supervisory cooperation, information exchange and mechanisms to minimise unwarranted disruption in the functioning of markets linked to a potential loss of market access. This will of course be vital for the UK-EU situation after Brexit, but also provides an opportunity for our relations with other key non-EU countries.