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Regulators need to be more mindful of the cumulative impact and unintended consequences of all the financial services rule changes being pushed forward here and in Europe, according to the newly appointed chairman of the Financial Services Authority’s main industry panel.
Joe Garner, a deputy chief executive of HSBC and head of its UK bank, will be named on Monday as the new chairman of the FSA’s practitioner panel. The body, made up of senior industry professionals, meets the regulator behind closed doors to discuss proposed rule changes before they are made.
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