But evidence unearthed by…regulators…is enough to stir even the most jaded cynic.” 2 The role of regulation New regulation may not always be popular, but, when crafted appropriately, it can effectively alter the actions of those financial institutions that follow low-road business models.
The Inquiry had a distinguished committee, a capable secretariat, and an effective and robust process of discussion and engagement. The Bank found its own engagement with the Committee very constructive. The Report is comprehensive and shows the Inquiry grappling with the big issues of our time.