Does the cost of regulation outweigh
the value?
Nick BamfordChartered Financial Planner
• LAUTRO• FIMBRA• PIA• FSA• FCA
• A brief history of regulation…
• 1988• 1995• 2012• 2016• 2065
• FCA £519m• FSCS £363m• FOS £253m
• Total £1.135bn
• Who pays for regulation?
• I do!• My clients do!
• Regulation is…
• Expensive• Ineffective• Mushrooming
• Five solutions…
• Reduce scale of FCA• Switch FSCS to product levy• Publish qualifications of FOS
staff• Create a self-regulating
professional body• Abolish RMAR
• Does the cost of regulation outweigh its value?
• Yes!