Today’s guest calls out UK finance regulators for their vocal opposition to proposed new government powers that would see lawmakers able to call watchdogs in to explain aspects of their approach to policing the City, arguing that such a stance is both “self delusion” and “constitutionally wrong”.
He calls on the UK’s Financial Conduct Authority to stop seeing City executives as “a bunch of criminals” and do more to engage with financial services professionals. He explains why he believes that reinstating City intelligence gatherers known as ‘grey panthers’ and establishing a proper secondment process at the FCA would ultimately help the watchdog better understand and police the sector.
He also outlines how parliament should best analyse the impact of changes to UK rules post-Brexit, and plenty more in between.
Philip Warland’s views have been crystallised over a 50-year career in financial services, which includes stints at the UK central bank the Bank of England, and banking group Standard Chartered. His last full-time role was at fund manager Fidelity International where he spent seven years leading its government affairs division as its head of public policy until 2017. He now advises several companies on regulatory matters but is speaking to Following the Rules in a personal capacity.
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