FSA warns of over-regulation

Chairman of the regulator says “disproportionate” rules have taken their toll

Company boards have been put “under unreasonable strain” by the number of new regulations enforced by various jurisdictions in recent years, according to the chairman of the Financial Services Authority Callum McCarthy. Speaking at a conference on risk recently Mr McCarthy said the effect of over-regulation is “one further class of risk of which I think we should be watchful”.