Regulatory pressure must persist as economy improves, says McDermott

Tracey McDermott, acting chief executive of the Financial Conduct Authority, has warned against “pendulum shifts in regulation” when – as now – the economic climate lifts, old lessons are forgotten and the desire for regulatory reform reduces. Speaking at the Mansion House on 22 October, she urged that regulators must remain focused on the right areas even though “we are starting to see some light at the end of the tunnel.”