The growth of regulation and state intervention in financial services since 1986 has gone too far without obvious benefit to consumers, practitioners and companies.
You should therefore beware the further extensions of state involvement contained in both the Sandler and Pickering reports.
Much of both reports advocate the continuation of “softly, softly” state intervention and regulation into complex areas which should be left alone for the market to determine allied with improved education for consumers.
The results of excessive regulation so far has led to companies withdrawing from the market, subjecting millions of their customers to the loss of regular service or follow-ups.
Common sense would suggest that much of the Sandler and Pickering reports should end up along with the 1973 Labour Party Green Paper – in the bin.