As an example, when one looks at the recommendations contained in the April FSF Report, they hardly look controversial and one might wonder why they hadn’t been adopted before. The answer seems to be that the financial industry opposed them until now and lobbied strong enough to avoid that they became legislation.
BIS Review 117/2008  1  Another source of conflict of interest derives from the international dimension of finance and the rapid mobility of products and factors of production in this sector. In such a context, there is an incentive to reduce the level of regulation compared to other countries in order to attract the financial industry from neighbours.