Leading figures in the financial world have warned that there could be a mass exodus from public if the burden of regulation does not ease
Financial experts, including Paul Boyle, the CEO of the Financial Reporting Council, IASB chairman Sir David Tweedie and former GlaxoSmithKline CFO John Coombe, have all expressed concern in a report by KPMG that excessive regulation could force public companies to go private.
'There is a widespread concern that regulation has gone beyond the point at which it is useful,' Boyle said. 'The balance between investor protection and creating prosperity may have been over-stepped.'
Boyle said this was 'driving people off the public markets'. Coombe said companies were 'more cautious about going onto boards' adding that good people were not staying in regulated business because of 'the documentation and personal liability'.
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